Pakistan removed from risk assessor’s list of dangerous waters

Pakistan's maritime waters have been removed from the Joint War Committee's (JWC) list of dangerous areas, a significant development expected to reduce insurance costs and enhance the country's trade competitiveness. The decision by the Lloyd's Market Association marks a positive shift after two decades of Pakistan's inclusion on the list, which was initially implemented following the U.S. war on terror after the 9/11 attacks.

Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry welcomed the move, stating it would improve the competitiveness of Pakistani exports and bolster the confidence of international shipping companies, traders, and investors. He believes this will make key ports like Karachi, Port Qasim, and Gwadar more attractive for global shipping lines and investors, potentially creating new opportunities for regional trade, cargo transit, and transshipment.

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Even during Ramazan, lengthy meetings were held for several hours after iftar.

The successful removal was the result of sustained negotiations between a special committee, headed by Chaudhry, and Lloyd's officials. The committee presented Pakistan's case using technical evidence and factual data, highlighting the long-standing financial burden imposed by additional war-risk insurance premiums and surcharges on Pakistani shipping and trade. The minister hailed this as a crucial step toward establishing Pakistan as a major regional logistics hub.

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Even during Ramazan, lengthy meetings were held for several hours after iftar.