Place the capsicum, onion, garlic, coriander and parsley in a food processor and blend to a very finely chopped paste. Alternatively, very finely chop them all together with a knife.
Heat the margarine and olive oil in a saucepan, add the rice and fry gently for 2–3 minutes until the grains are translucent.
Remove from the heat and stir in the herb paste. Return to the heat and cook for 2 minutes, stirring constantly. Pour in the boiling stock, and season with pepper. Bring to the boil, then reduce the heat, cover and cook gently for 10–15 minutes or until the rice is tender and the stock is absorbed.
Remove from the heat and leave to stand, with the pan still covered, for 3–4 minutes. Then fork through to separate the grains. Serve hot, garnished with the coriander sprigs.