Govt working on ‘Blue Bond’ to attract investment: official

Web DeskWeb Editor

11th Aug, 2021. 11:21 am
Pakistan pursuing independent foreign policy for first time: Farrukh Habib

ISLAMABAD: The government is working on ‘Blue Bond’ to attract investment through mangroves in Balochistan, storing enormous amounts of blue carbon, a government official said in a statement.

Minister of State for Information and Broadcasting Farrukh Habib said that mangroves in Balochistan were growing at a rapid pace and had stored enough blue carbon worth Rs2.5 billion.

The mangroves growth had gone up 300 per cent during the last decade, he said, adding that more mangroves were being planted at 12,000 acres of land in Balochistan.

Pakistan was the only country in the world with the highest growth rate of mangroves, he said, adding: “Mangroves are the natural guardians of the coast, providing a number of benefits, including protection from cyclones and rising sea levels,” he said.

The minister of state regarded mangrove as the best carbon sinks, which had potential to absorb four times as much carbon from the forests.

The mangroves had become a major source of green jobs for the people living along the coastlines. He said Prime Minister Imran Khan was in Miyani (Karachi) to recognise locals’ efforts in this regard on the occasion of the International Day of the World’s Indigenous Peoples 2021.

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