Crackdown expected against illegal housing schemes in Lahore

Crackdown expected against illegal housing schemes in Lahore

LAHORE: Taking notice of illegal housing schemes scamming victims by adopting deceptive marketing tactics, the Competition Commission of Pakistan (CCP) has resolved to tackle the issue in collaboration with the Lahore Development Authority (LDA).

Dr Shahzad Anser, a member of CCP, informed LDA Director General Sumair Ahmad Syed about his department’s strategy to tighten the net around miscreants involved in fraudulent activities in the real estate sector.

A suo motu action has been taken under section 37(1) of the Competition Act, 2010 against misleading advertising to lure unsuspecting public. Concerns were raised by the LDA upon which the commission has decided to initiate an inquiry.

So far, an inquiry team from CCP has visited 62 illegal housing schemes engaged in deceptive marketing. The team is expected to release its report in a couple of weeks, with those found guilty to be penalised under section 38 of CCP Act, 2010.

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