What change in policy did the government introduce in 1991?

Privatization and liberalization

The correct answer is Option 4: Privatization and liberalization

The conflicts and problems led the government to introduce a new economic policy in 1991, which included measures of privatization and liberalization to address the challenges faced by the industrial sector. This marked a significant shift from the earlier import substitution strategy to policies that encouraged foreign investment, deregulation, and opening up of the economy to global markets. The changes aimed to reduce government control over the economy and promote private sector growth and competition.