delete Industries Assistance Commission Regulations
Regulations governing the Industries Assistance Commission (IAC), a statutory body established to advise on industry assistance and protection measures. The IAC was abolished in 1998, rendering these 2014 regulations either administratively obsolete or an attempt to revive interventionist industrial policy through regulatory means.
Obsolescence and inherent harm: The commission no longer exists, so the regulations serve no legitimate purpose. Even if they aimed to re-establish similar intervention, industrial assistance (subsidies, tariffs, protection) violates free-market principles by distorting price signals, allocating resources via political favor rather than consumer demand, imposing costs on taxpayers and consumers, and fostering rent-seeking and dependency. The unseen consequences include reduced competitiveness, stifled innovation, and prolonged economic inefficiency.