ISLAMABAD: The Competition Commission of Pakistan (CCP) has imposed a fine of Rs 10 million ban on Vision Developers (Pvt) Limited, a company owned by PTI’s Central Punjab President Aleem Khan and two other real estate companies for its deceptive marketing campaigns.
In a press statement, the Competition Commission of Pakistan (CCP) said it has passed three orders imposing penalties of Rs 2.5 million each on Eden Builders (Pvt) Limited and Green Field Developers (Pvt) Limited and Rs 10 million on Vision Developers (Pvt) Limited for deceptive marketing campaigns for their respective housing schemes that were in violation of Section 10 of the Competition Act, 2010.
Vision Developers, a Lahore-based real estate company, had obtained the approval of Lahore Development Authority (LDA) for a housing society, “River Edge Housing Scheme.” The company subsequently applied for NOC from the LDA for a new housing scheme, “Park View Villas”, which was denied by LDA for being located close to a riverbank, which could be prone to flooding.
Despite this, Vision Developers advertised the new unapproved scheme under the deceptive name of “Park View Villas at River Edge Housing Society,” giving the impression that the new scheme was an extension of the earlier-approved “River Edge Housing Scheme.”
