Laws permitting free trade -- exempt from customs, exchange control and import-export regulations -- have been passed in Parliament. The areas where free trading could take place have not been specified so far, but will be gazetted, according to the amendments made to the Finance Act on Friday.

Prices of essential goods are increasing ahead of the National New Year as a direct result of the depreciation of the rupee, importers said. The warning came as the Central Bank on Friday said inflation increased by 5.5 per cent last month.