Pakistan and its territorial waters have been removed from the Listed Areas of Lloyd’s Market Association’s Joint War Committee (JWC), a move that will help reduce war-risk insurance premiums and shipping costs, Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said on Thursday.
Describing the development as a historic achievement, the minister said the decision would improve the competitiveness of Pakistani exports and strengthen the confidence of international shipping companies, traders and investors in the country.
He said the move could also make Karachi Port, Port Qasim and Gwadar more attractive to global shipping lines and investors, creating opportunities for regional trade, cargo transit and transshipment.
The Minister said the issue was taken up on March 13, 2026, when it was noted that Pakistan and its maritime areas had remained on the JWC’s Listed Areas for decades. Their inclusion had resulted in additional war-risk insurance premiums and surcharges for Pakistani shipping and trade.
The Prime Minister subsequently constituted a special committee, headed by Junaid Chaudhry, to pursue the matter. The committee held negotiations with Lloyd’s officials and presented Pakistan’s case on the basis of technical evidence and factual data.
“Even during Ramazan, lengthy meetings were held for several hours after iftar,” the minister said, adding that sustained negotiations eventually resulted in Pakistan removed from the list.
He said the decision would reduce the additional financial burden on the country’s maritime trade and help Pakistani exports compete more effectively in international markets.
The Minister said the development was an important step towards making Pakistan a major regional logistics, transit and transshipment hub.
He added that the government would continue efforts to improve maritime safety and efficiency, expand port capacity and attract investment in the sector.
