CCP initiates investigation against dubious housing schemes

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ISLAMABAD: 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 whether these housing schemes have violated Section 10 of the Competition Act, 2010.

“The Lahore Development Authority (LDA) informed through a letter that 88 housing schemes in Lahore and its adjoining districts of 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,” said CCP in a statement issued on Monday. “LDA has 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 enquiry team to thoroughly probe the said housing schemes and submit an enquiry report to the Commission. As part of the investigation, the enquiry team has visited 62 housing schemes to see the situation on ground and is scheduled to visit the remaining housing schemes. 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.

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