Ministry of Commerce and Textile has made the right move by rejecting Finance Ministry's proposal about increase in Regulatory Duty (RD) on hundreds of tariff lines, saying that any such move will fuel inflation without having any negative impact on imports.
Trade protection is not good for any economy that is looking forward to higher growth. It causes market distortion and loss of allocative efficiency. It also leads to higher prices for consumers and a reduction in market access for producers.
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