New Delhi : Railways has initiated the process for setting up of a regulatory body on the lines of telecom sector, said Union Minister Suresh Prabhu who has asked the NITI Ayog Chairman to prepare the roadmap for it. Asserting that there was a need for having a regulatory mechanism independent of the public transporter for getting private participation, Prabhu said once the model was ready it would be put on the website for wider discussions.
“A regulatory mechanism is specifically required…so that private participation does not compromise public interest, does not hamper public function. Private sector also need not worry about the security of their investment. We have to trade off the balance between private and public,” Prabhu told PTI. Asked about the contours of the proposed body, he said it would be like regulators for telecom and power.