What does 'Most Favoured Nation' mean in terms of trade?

According to the World Trade Organization, 'Most Favoured Nation' implies non-discrimination in trade terms and tariffs amid all 164 member countries. Often confused as giving special treatment, "most favoured" as per WTO, demands giving equal trade status to all members. In accordance, India gave Pakistan MFN status in 1996. However, Pakistan is yet to fully implement MFN status for India.