KARACHI, Dec 3: Finance Minister Dr Abdul Hafeez Shaikh instituted on Saturday the ‘Sabihuddin Ghausi Award’ for journalists, in recognition of his services for upholding freedom of the Press.

Announcing this at the Karachi Press Club, Mr Shaikh said that initial prize for the award would be Rs100,000 which would be increased in times to come.

“His reporting might have always created problems for me as a minister, but at the same time guided me in improving the financial affairs,” Mr Shaikh said of Mr Ghausi, a former staffer of Dawn.

Mr Shaikh, who was conferred life membership of the club, announced a grant of Rs10 million for improving facilities at the KPC.

He said KPC members deserved more than this amount but due to the ongoing austerity drive in the country this was the maximum that could be done. “This amount would be enhanced as the financial situation improves next year,” he added.