Dear Ali,
A run under the PEST predictive mode, it means that PEST would start modifying the parameters in other to minimize/maximize certain observation, but keeping the model "calibrated" at the same time.
PD0 is the target objective function. This is the value what you would expect for a calibration model. Normally, you can take this value from a previous PEST run (i.e. standard estimation mode).
PD1 is the acceptable objective function. Since you want to keep the model "calibrated", then you would need to say what "calibrated" status means. This is simply few percentages above PD0 (e.g. 1-2%).
PD2 tells PEST when to change to the next iteration after having try several Marquardt Lambdas.
You can find all the details in the PEST Manual (section 6-14, page 192).
Regards,
Carlos