Islamabad: Pakistan has achieved a significant milestone in the maritime sector after the Joint War Committee (JWC) of the Lloyd's Market Association removed the country from its Listed Areas for War Risk Insurance, meaning Pakistan is no longer considered a high-risk maritime zone for international shipping.
Deputy Prime Minister and Foreign Minister Ishaq Dar welcomed the decision, describing it as the result of coordinated efforts by the Government of Pakistan and the country's High Commission in London. He said the move reflects growing international confidence in Pakistan.
Federal Minister for Maritime Affairs Junaid Anwar Chaudhry stated that the decision is expected to reduce shipping costs, enhance the competitiveness of Pakistani exports, and strengthen the confidence of international shipping companies, traders, and investors.
The Joint War Committee identifies maritime regions facing elevated security risks, where vessels are generally required to pay additional war-risk insurance premiums. Pakistan's removal from the list is expected to significantly reduce these additional costs.
According to the government, the decision will make Karachi Port, Port Qasim, and Gwadar Port more attractive to international shipping lines while supporting Pakistan's long-term goal of becoming a regional logistics, transit, and transshipment hub.
