Holding a press conference at Railways Headquarters Lahore, Rafique said 53 acres of Railways land in Karachi was leased out for a cooperative housing society for 90 years.
The Moon Garden apartments were constructed on more than two acres of the total land, he told.
The minister vowed strict action against concerned people, if any irregularity was found in the allotment of land to Moon Garden project.
Meanwhile, Saad Rafique said Lahore-Karachi Karakoram Express will be run with value-added services.
He added that a committee has been constituted for the service structure of railway employees and soon a labor package will be announced for them.