Staff Reporter
Islamabad
Taking notice of specific complaints regarding prima facie deceptive marketing practices by different housing schemes in Punjab, Competition Commission of Pakistan (CCP) has launched an inquiry to examine whether these housing schemes had violated Section 10 of the Competition Act 2010.
The LDA informed through a letter that eighty eight (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 a press release issued by CCP on Monday.
The LDA sought a ban on the advertising campaigns of these schemes to save the people from financial losses.
Taking a suo motu notice of the complaints and concerns, the CCP had authorized an inquiry team to thoroughly probe these housing schemes and submit an inquiry report to the Commission. As part of the investigation, the inquiry team had visited 62 housing schemes to assess the situation on ground and was scheduled to visit the remaining housing schemes. The team 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 joint interests.
The Section 10 of the Competition Act, inter alia, prohibits businesses from indulging in deceptive marketing practices, which also include the distribution of false or misleading information, lacking reasonable basis, deceiving the consumers, and harming the business interest of the other undertakings.
