3. Most medicines will have market-set prices

The market will play a major role in deciding the prices of medicines with the government changing its role from decision-maker to supervisor.

The introduction of market competition may push pharmaceutical companies to lower prices.

The market should activate competition so that consumers may get good quality medicines at more reasonable prices.

4. Customs duty on some consumer goods falls sharply

Paper diapers see the biggest fall with the rate down from 7.5 percent to 2 percent. Footwear such as short boots and sports shoes will attract 12 percent customs duty rather than 22 percent to 24 percent.