Taking notice of the widespread concerns and complaints regarding the prima facie deceptive marketing practices by various housing schemes in Punjab, the Competition Commission of Pakistan (CCP) has launched an enquiry to see 88 housing schemes have violated Section 10 of the Competition Act 2010.
The Lahore Development Authority (LDA) informed through a letter that eighty eight housing schemes in Lahore, Kasur, Sheikhupura and Nankana Sahib were luring investors and the general public through print and TV advertisements to invest in their schemes, without meeting the legal requirements and in violation of the pertinent laws. LDA sought a ban on the advertising campaigns of these schemes to save the citizens from financial losses.
Taking a suo motu notice of the complaints and concerns, the CCP has authorised an inquiry team to thoroughly probe the said housing schemes and submit an inquiry report to the Commission. As part of the investigation, the inquiry team investigate 62 housing schemes initially.
The team has also met the DG LDA and other concerned officials to enlighten itself about the pertinent issues and explore the ways to cooperate and coordinate in the areas of shared interests. If the violation of Section 10 was proved against these housing schemes, the CCP may issue show cause notices to them under Section 30 of the Competition Act.
Spokesman of CCP said that mandated under the Competition Act to ensure free competition in all spheres of commercial and economic activity, to enhance economic efficiency and to protect consumers from anti-competitive behaviour including deceptive marketing practices.