Member CCP briefed the participants about directions taken by CCP against illegal housing schemes
Islamabad: Punjab Govt to Provide Info for CCP’s Investigation into Deceptive Housing Schemes. The Punjab Government will provide updated information about the housing schemes in Punjab to the Competition Commission of Pakistan (CCP) to facilitate its ongoing investigation against housing schemes engaged in deceptive marketing practices.
This decision was taken in a meeting held under the chairmanship of Secretary Housing, Urban Development & Public Health Engineering Department, Government of Punjab, Capt. (Retd.) Asad Ullah Khan. The meeting was attended by CCP Member Office of Fair Trade Saeed Ahmad Nawaz, Secretary LG&CD, Shakeel Ahmad Mian, DG Lahore Development Authority Tahir Farooq, and senior officials from LG&CD and CCP.
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Member CCP briefed the participants about directions taken by CCP against illegal housing schemes. He informed that CCP is investigating the housing schemes that are violating Section 10 of the Competition Act, 2010 by misleading consumers. He desired that updated information about housing schemes may be provided and necessary support for conducting Public Hearings may also be provided.
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Secretary HUD&PHED, Secretary LG&CDD and D.G LDA agreed to provide necessary support and venue for public hearing. It was also decided that Proforma No.1 and Proforma No.2 soliciting basic and detailed information about the housing schemes under investigation containing basic information shall be provided.
Punjab Govt to Provide Info for CCP’s Investigation into Deceptive Housing Schemes
Unapproved housing schemes: CCP takes note of deceptive marketing practices
The Competition Commission of Pakistan (CCP) has found that the rampant advertisement campaigns of unapproved schemes by developers and builders are a major issue in the real estate sector, reflecting deceptive marketing practices.
According to a report of the CCP on real estate sector, it has been observed that various undertakings on the launch of housing schemes have indulged in deceptive marketing practices in the real estate sector of Pakistan. One of the major and most frequent issues pertinent to deceptive marketing practices in this sector is that of rampant advertisement campaigns by unapproved schemes. Builders and developers start advertising their schemes prior to attaining NOCs from relevant authorities. The consumers, upon viewing such ads, invest significant amount of funds in such schemes. However, these schemes either prove to be completely nonexistent or due to absence of NOCs, get cancelled by the relevant authorities. Either way, it is the end consumer that incurs huge losses – often lifetime savings – due to instances of such deceptive marketing practices.
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