KUALA LUMPUR: Economists have welcomed the government’s Special Covid-19 Aid (BKC) as a much needed relief for the vulnerable population of the country.

       Centre for Market Education chief executive officer Carmelo Ferlito said the aid would buffer the impact of the pandemic on the hardcore poor.

       “It is good for the government to be committed to help the most fragile segment of the population,” he told StarBiz.

       “The aids have been made necessary by government policies, namely by the movement restrictions. The policies have been disproportionately heavier for the poorer part of the population.”

       It is imperative for the aids to achieve their intended objectives, according to Carmelo.

       “It needs to be very clear that the aids are purely aids and not to drive economic recovery and that they are by nature a temporary measure.

       “It is necessary for the government to invert the route, so that the aids would not be necessary in the future as the people are placed back into positions where they can get back their jobs and restore their saving capacity.”AmBank Group chief economist Anthony Dass said the decision to assist the B40 and M40 groups was a good move, considering the current economic situation.

       “They have been affected since last year and they have not completely come out of the doldrums. Even if it is a temporary form of relief, it is better than nothing.”

       Going forward, Anthony said the goal must be to help create jobs for the B40 and M40 groups.

       “There must be some kind of a roadmap that can help them get back on their feet to pre-Covid levels,” he said.

       Prime Minister Datuk Seri Ismail Sabri Yaakob said a total of RM3.1bil had been channelled to relevant banking institutions.