Migration presents an oppor tunity to acquire new skills

mittances for bringing down Pakistan's fertility rate which is currently 3 6

Dr Anne White from University College London School highlighted the potential for migrants exchange of ideas to transform the ways migration takes place Dr Bilesha Weeraratne from the Institute of Policy Studies Sri Lanka and Froilan Malit Jr from the University of Glasgow underlined the role of social media and technology in the transfer of social remittances to home countries Malit discussed the case of the Filipino diaspora in Gulf countries, which used digital technology to impact the domestic electoral outcome and political preferences in their home country

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SBP chief confirms March 16 MPC meeting amid off- c ycle review rumors

Islamabad

N e w S d e S k

The State Bank of Pakistan (SBP) has announced that its next monetary policy committee meeting is scheduled for March 16, amid speculation that an off-cycle review to raise the key interest rate may be announced The SBP cited persistent inflationary pressure for the hike in interest rates at its previous MPC meeting in January, with inflation having increased further since then

The market is already pricing in a hike, with short-term government paper interest rates rising to 19 95% in Wednesday s auction The KSE-100 Index has also fallen as investors factor in the po- tential hike

Pakistan is currently implementing measures to revive its IMF bailout programme which could lead to further pressure on inflation as energy tariffs rise and the rupee weakens Last year, an emergency meeting was held in April outside of the SBP-issued advance calendar, where the MPC decided to raise the policy rate by 250 basis points The SBP's decision on whether to hold or raise the interest rate at the next meeting on March 16 will be closely watched by investors and economists

The SBP s decision on interest rates has farreaching consequences for Pakistan s economy A high-interest rate helps to control inflation but can also slow down economic growth by making bor-