What was the aim of trade policy introduced in 1991?

Removal of quantitative restrictions Reduction of tariff rates Removal of licensing procedure for imports All of the above

All of the above

The trade policy reforms aimed at (i) dismantling of quantitative restrictions on imports and exports (ii) reduction of tariff rates and (iii) removal of licensing procedures for imports. Import licensing was abolished except in case of hazardous and environmentally sensitive industries.