KARACHI, March 15: Advisor to Prime Minister on Privatization and Investment Dr Abdul Hafeez Shaikh has said that the government is preparing a plan for the development of coastal areas and to attract investment locally as well as from abroad.

He said the plan envisages massive coconut plantation which would not only beautify our coasts, but also help save Rs 32 billion in foreign exchange which is being spent on import of edible oil.

He was speaking as chief guest at a reception hosted by the Pakistan Coconut and Oilpalm Plantation Society.

Dr Hafeez Shaikh said that the government was keen to attract investment in various projects for the country’s long coastal line so as to develop it on the pattern of Sri Lanka and Malaysia.—APP