Key Takeaways
- Pakistan and its territorial waters have been removed from the Listed Areas of Lloyd's Joint War Committee.
- The move will reduce war-risk insurance premiums and shipping costs for Pakistani exports.
- This decision is expected to make Karachi, Port Qasim, and Gwadar more attractive to global shipping lines.
In a significant development for Pakistan’s maritime sector, the country has been removed from the Listed Areas of Lloyd's Market Association’s Joint War Committee (JWC), effective immediately. This decision will reduce war-risk insurance premiums and shipping costs, according to Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry.
Describing the move as a historic achievement, Chaudhry stated that it would improve Pakistan’s competitiveness in international markets and strengthen the confidence of international shipping companies, traders, and investors. The minister highlighted that this decision could also make Karachi Port, Port Qasim, and Gwadar more attractive to global shipping lines and investors.
The issue was first noted on March 13, 2026, when it was observed that Pakistan 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. In response to this, Prime Minister constituted a special committee, headed by Chaudhry, to pursue the matter.
The committee held negotiations with Lloyd's officials and presented Pakistan’s case based on technical evidence and factual data. Sustained negotiations eventually led to the removal of Pakistan from the list. Chaudhry said that this 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 further stated that this development is an important step towards making Pakistan a major regional logistics, transit, and transhipment hub. He emphasized that the removal from the JWC’s Listed Areas will have a positive impact on the overall economic landscape of the country by reducing costs and enhancing trade opportunities.
With the reduction in insurance premiums and shipping costs, Pakistani exporters are expected to benefit significantly. This move could also attract more global investment into Pakistan's ports, thereby boosting regional trade and cargo transit activities.
The decision would improve the competitiveness of Pakistani exports and strengthen the confidence of international shipping companies, traders and investors in the country.
Muhammad Junaid Anwar Chaudhry, Federal Minister for Maritime Affairs
