Please advise what is the role of naphazoline if it is present in eye lubricants?

It isn't: Naphazoline is a decongestant contained in "get the red out" medical drops. It is not found in lubricant drops. Repeated use of drops that contain this medication can cause tachyphylaxis, where the eye becomes used to the medicine, and stopping it causes the eyes to become red.

Anti-allergic: This is an over the counter anti-histamine of reasonable potency. Most drops containing naphazoline are labeled as anti-allergic. There are practically no side effects.