Shillong, Nov 28 (IANS) Meghalaya Chief Minister Conrad Sangma said on Thursday that the youths in the state lack financial literacy and skills and a joint initiative between the Education Department and National Stock Exchange (NSE) can work to improve the situation.

A Memorandum of Understanding (MoU) was signed today between the Education Department of the Government of Meghalaya, and the National Stock Exchange (NSE) in the presence of Chief Minister Sangma, Education Minister Rakkam A Sangma and officials from the Education Department and NSE.

The MoU was signed to provide financial literacy to college students in banking and insurance.

Chief Minister Sangma said that financial literacy and skills were something that the entrepreneurs and youth of the state lacked.

He said, "The financial literacy by NSE will help to make sound financial decisions, avoid risky consequences and help secure the future by making informed and wise decisions."

Meanwhile, CM Sangma on Wednesday inaugurated the first phase of the Meghalaya Biological Park at Untrew in the Ri Bhoi District of Meghalaya, a project which has been pending for the last 24 years.

Expressing happiness over the completion of the first phase of the long-pending project, Chief Minister Sangma said, "It gives me great pleasure and satisfaction to inaugurate the first phase of the Meghalaya Biological Park that took almost 24 years to complete since its inception due to various challenges."

"Though we are inaugurating it today, much needs to be done to make this place vibrant and fully functional," he said.

CM Sangma also informed that though many components of the Biological Park, like ticketing counters, cafeteria, souvenir shops and enclosures still need to be completed, it was important to open the facility.

He added, "This Biological Park can be a place not only for amusement and recreation but a platform for engagement especially with the youth and to sensitize our youth and children in having empathy and responsibility towards our environment and wildlife."

"It is the main intention of the government to strike an ecological balance and projects like these give us the chance to give space to animals who are rescued or who cannot go back to their natural habitat," said the Chief Minister.

Courtesy Media Group: IANS