The problem is once they started to turn public transport into for profit, there is little way to turn back. They invite private companies to build the network, do the operation, now how can they go back to be non profit to be a public service to the people ? Unless they do subsidise fares which will look like they are siphoning money from government to private companies. It’s a no winner situation. If the government wants to nationalise the public transport they will have to spend a significant amount of money to buy them off , which may or may not be affordable to them.