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ISLAMABAD: Pakistan and its territorial waters have been removed from the Listed Areas of the Lloyd’s Market Association’s Joint War Committee (JWC), it emerged on Thursday, a move that will help reduce war-risk insurance premiums and shipping costs.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry welcomed the decision and said it would improve the competitiveness of Pakistani exports and strengthen the confidence of international shipping companies, traders and investors in the country.
He added that Pakistan’s removal 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.
According to the minister, the issue was taken up on March 13, 2026, when it was noted that Pakistan and its maritime areas had been one of the JWC’s Listed Areas for two decades.
