CCP sets August 27 hearing on competition issues in real estate
The Competition Commission of Pakistan will hold an open hearing on Aug 27 to gather evidence on real estate competition issues, including deceptive marketing and misleading disclosures affecting buyers and investors.
The Competition Commission of Pakistan (CCP) has scheduled an open hearing for August 27 to gather evidence and stakeholder views on competition-related issues in the real estate sector.
The hearing follows complaints received by the competition watchdog concerning deceptive marketing and other potentially anti-competitive practices in the property market.
Consumers and investors, along with developers, builders, real estate professionals, industry associations and other stakeholders, have been invited to participate and submit their concerns directly to the commission.
Among the issues under examination are representations concerning project approvals, advertised features, charges and other material information that could influence property investment decisions.
The CCP said buyers who commit substantial funds on the basis of inaccurate or misleading information can face serious financial consequences. It emphasised that transparent and truthful disclosures are necessary to allow consumers to make informed choices and maintain fair competition.
The commission said deceptive marketing is prohibited under Section 10 of the Competition Act, 2010, which bars the dissemination of false or misleading information that may harm consumers or the business interests of other undertakings.
The open hearing will be conducted under Section 29(c) of the same law, which empowers the CCP to hold hearings on matters affecting competition.
The commission said the views and submissions presented during the August 27 hearing will be documented and considered when it formulates its opinion and recommendations on the sector.
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