ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has officially transitioned 59 Independent Power Producers (IPPs) with foreign financing from the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR).
Of these, 14 opted for Daily SOFR, while 45 chose Term SOFR. This move comes in response to LIBOR’s discontinuation on June 30, 2023, and is part of efforts to align Pakistan’s financial practices with global standards. The transition ensures that both legacy and new contracts now adhere to the more robust and reliable SOFR.
In addition, 14 other projects have adopted “daily simple SOFR”, calculated on an approved lookback period and the International Swaps and Derivatives Association (ISDA) recommended Credit Adjustment Spread (CAS).
Girl developed symptoms on January 30, samples were collected on February 3 and 4 before being sent to lab
Journalists raised strong slogans against Peca during protest
Federal Bureau of Revenue deducted Rs566.62 million as advance tax from fund
Government has extended for three months additional charge of Secretary Law and Justice Division
According to sources, Establishment Division sent explanatory letter to federal ministries and divisional heads
Winter package includes two quilts, woolen shawls for men and women, and warm clothes for children and adults