Trade policy is a complete framework of relevant rules, regulations, stances and deals that need a supportive tariff policy.  The objectives and goals of the tariff policy are clearly defined and justified to a large extent. Having no written tariff policy for the last five decades was a drawback in the country’s trade policy regime, which was flawed for various reasons. It is also true that no trade policy is free of errors or limitations as the policy is always subject to revision from time to time.

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