The Competition Commission of Pakistan will hold an open hearing on August 27 to examine competition concerns in the real estate sector, including misleading claims, hidden charges and inaccurate representations concerning project approvals.
The commission has invited consumers, investors, developers, builders, real estate professionals, industry associations and other stakeholders to share their experiences directly. The hearing follows complaints received by the CCP regarding deceptive and potentially anti-competitive practices in the sector.
The regulator said information concerning project approvals, features, charges and other material details can have a significant impact on investment decisions. It warned that consumers can face serious consequences when they invest substantial amounts based on false or misleading information.
Under Section 10 of the Competition Act, 2010, deceptive marketing practices are prohibited, including the dissemination of false or misleading information that can harm consumers or the business interests of other companies.
The CCP has previously taken enforcement action, conducted inquiries and issued orders involving deceptive marketing practices in the real estate sector. The commission said broader stakeholder engagement is now needed to identify wider competition worries and understand market practices from both consumer and business perspectives.
The hearing will be conducted under Section 29(c) of the Competition Act, 2010. It allows the commission to hold open hearings on matters affecting competition. Information and concerns presented by participants will be recorded and considered while the CCP formulates its opinion and recommendations.
The hearing will take place from 4 p.m. to 6 p.m. on August 27 at the Competition Commission of Pakistan’s office at ISE Towers on Jinnah Avenue in Islamabad. Registration is mandatory and will remain open until August 25.
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