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.
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.
Full Content: UrduPoint
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