Prevented by law from dipping his own fingers on the upcoming QR National Ltd asset sale, Queensland Treasurer Andrew Fraser said on Friday that he is investing instead his full confidence on the biggest float in the state since the 1997 share sale of Telstra.

Fraser appeared ready to pour down all his efforts on QR National's initial public offering (IPO), which he described as a sure crack as he stressed that the public sales is slowly forming into the actual expectations of the state government.

The float so far has elicited robust interests and demands from the international roadshow, according to Mr Fraser, which he said is poised to bring in a total haul of up to $5.05 billion for the state coffers and en route to the targeted $15 billion profit from numerous public asset sales being undertaken by the Queensland government.

Fraser's comments were made following the more than $2 billion sale of the Port Of Brisbane as the state government ramps up its efforts to regain its AAA credit rating from Standard & Poor's.

Analysts are somewhat in doubt if the share prices being offered for QR National actually represent its true value though they affirmed that the Queensland government is heading into the right path by deciding to go ahead with the float at this time.

Also, Queensland's opposition treasury spokesman Tim Nichols is convinced that brokers are generally doubtful on the prospect of the QR National float, claiming that if not fore the international attraction that the sale has generated, most brokers would view the public sale as a flop.

Nichols stressed that the public sale of the coal freight business is anything but an easy sale as "people are not comfortable with the numbers that are being put forward there."

Yet Fraser seemed undisturbed by the criticism, remaining wholly confident that the float on November 22 would turn out to be a success as he stressed that "I'm completely comfortable as it's completely on track with where I thought it would be."