Lahore (Web Desk): Federal Minister for Railways Khawaja Saad Rafique strongly rejected rumours about the Pakistan Railways’ privatisation, he opted the stance that the state-owned corporation is successfully generating its revenue streams and did not need to be sold off.

A contract-awarding ceremony held on Saturday where Rafique said, “We are not going to kick-in any privatisation process for Railways – neither is there any need nor can it be done”.

However, he said that the unit will want to continue as a regulator and will invite the private sector to operate more passenger as well as freight train operations.

He said, “We will manage to uplift revenues from Rs.18 billion to the expected Rs40 billion by the end of this fiscal year. We are going to further increase our revenue targets for next year to Rs50 billion and we are hopeful that it can now achieve the target.”