ISLAMABAD – The Competition Commission of Pakistan (CCP) has imposed a penalty of Rs150 million on Kingdom Valley (Pvt.) Limited for misleading advertisements relating to its housing project.
Acting on a suo motu notice, CCP’s Office of Fair Trade initiated an investigation and found that the company falsely advertised its project as “Kingdom Valley Islamabad”, despite it being located in Mouza Choora, Tehsil & District Rawalpindi.
Additionally, it misrepresented affiliations with the Naya Pakistan Housing Program (NPHP) and the Naya Pakistan Housing and Development Authority (NAPHDA). It publicised the project as “NOC Approved” without accurate or complete disclosure regarding its approval status.
The CCP concluded that the company had violated Sections 10(2)(a) and 10(2)(b) of the Competition Act, 2010, which prohibit the dissemination of false or misleading information to consumers. Consequently, Rs 75 million was levied for each violation, amounting to a total fine of Rs 150 million.
In addition, the CCP noted serious non-compliance, including the company’s failure to submit audited financial statements and non-compliance with the CCP’s directives. The company has also not filed financials with the SECP for several years, raising concerns about its governance and transparency.
The CCP reiterates its commitment to protecting consumers from deceptive marketing practices and ensuring fair competition in the housing and real estate sector.
Consumers and stakeholders are encouraged to report deceptive advertisements or anti-competitive behaviour to the CCP via WhatsApp or email.