Lahore: The Competition Commission of Pakistan (CCP) has launched an investigation into reports of deceptive marketing practices allegedly committed by the managements of 62 private housing schemes situated in Lahore and its adjoining districts, according to news sources.
Previously, the Lahore Development Authority (LDA) had requested the CCP to investigate alleged marketing malpractices by the said residential projects located in Lahore, Kasur, Sheikhupura, and Nankana Sahib.
The commission is expected to impose a fine of up to PKR 75 million on the administrations of these projects. A CCP inquiry team recently visited the site offices of these housing schemes where it announced its decision to take legal action against the administration under Section 37(1) of the CCP code.
CCP delegation head Dr Shahzad Ansar, during a meeting with LDA Director General (DG) Sumair Ahmad Syed, stated CCP would impose penalties to the tune of PKR 75 million (or a sum not exceeding 10% of the schemes’ total annual turnover) under Section 38 of CCP Act, 2010, on the sponsors of the projects found to be illegal.
The CCP team was of the opinion that this partnership with LDA would bring public awareness and will prove advantageous for undertakings aimed at promoting competitive business practices across the country.
Meanwhile, the staff of the LDA’s Estate Management Directorate carried out an operation against illegal housing project and demolished several illegal structures.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
