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Bunuel
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I chose B
1) Should have "elimination or at least reduction ". "elimination and at least reduction" both can't be possible simultaneuosly
2) Loopholes should be followed by include and not includes

This leaves me with 2 options - B or C
3) Not only..... but also
Not.... But
Two structures.

Not only.... but also in option C is not following exact parallelism. Hence, chose B

I would request an expert to validate
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milanrajb
I chose B
1) Should have "elimination or at least reduction ". "elimination and at least reduction" both can't be possible simultaneuosly
2) Loopholes should be followed by include and not includes

This leaves me with 2 options - B or C
3) Not only..... but also
Not.... But
Two structures.

Not only.... but also in option C is not following exact parallelism. Hence, chose B

I would request an expert to validate

The only difference between B and C is the idiom. Both idioms (Not only X but Y & Not only X but also Y) are correct but the intended meaning requires the use of the idiom 'Not only X but also Y'. Hence C is the correct answer and B is incorrect. Also, C has no parallelism issues as you indicated.
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Bunuel can you please help
According to me answer should be option E.

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