ISLAMABAD: The Competition Commission of Pakistan (CCP) on Thursday concluded three open hearings on the real estate sector in Pakistan to give an opportunity to the stakeholders to voice their concerns on relevant issues.
The CCP’s bench, comprising Chairperson Vadiyya Khalil and members Dr Shehzad Ansar and Dr Saleem, conducted the open hearings in Karachi on April 19 and in Islamabad and Lahore on April 11 and 17 respectively. The representatives of real estate associations, builders, developers, marketers, regulators, ministries and other relevant government offices and consumers attended these hearings in large numbers.
In her opening remarks, the chairperson said that the real estate sector plays a crucial role in economic growth and in helping people achieve a lifelong aspiration of their own home. However, she said, the CCP continues to receive a number of concerns and complaints from the consumers about deceptive marketing practices and other pertinent issues. The open hearing, she said, has been organised to discuss such issues so that CCP can take necessary measures under its mandate to help resolve those matters.
The attendees complained of being subjected to deceptive marketing practices by the developers and marketing companies. They said that in most of the cases, the facilities being promised by the marketing campaigns were not provided. They also highlighted other issues such as overbooking of plots, delay in giving possession of plots, and approvals – or lack thereof – by the relevant authorities for various housing schemes and societies.
Published in Daily Times, April 20th 2018.
