New Delhi, August 1(ANI): Yashwant S. Bhave on Saturday took over as the first Chairperson of the Airports Economic Regulatory Authority (AERA), which was recently constituted by Government for the economic regulation of the airport infrastructure sector.

With the joining of Bhave, the AERA is likely to commence its regulatory functions in the next few months.

Under the Airports Economic Regulatory Authority of India Act, 2008, the AERA has been assigned the functions of determining tariffs for aeronautical services rendered at all major airports, including for air navigation services, the fixation of Development Fees and Passenger Service Fees. The AERA would also monitor performance standards relating to quality, continuity and reliability of services at these airports.

It is also expected to play a crucial role in the economic well being of vital airport infrastructure in the country.

The present downturn in the aviation sector is likely to pose an immediate challenge to the AERA, as it would have to ensure that airport charges are regulated so that the airlines and the passengers are not burdened.

Bhave is a retired officer of Indian Administrative Service of 37 years standing with a specialization in electronics and public administration.

During his career, he has held different positions in the Government of Maharashtra like CEO of the Maharashtra Industrial Development Corporation, MD of the Small Scale Industries Development Corporation, MD of the State Financial Corporation, Chairman of the State Electricity Board, Development Commissioner (Industries) and Principal Secretary of the Department of Industries.

At the Centre, he has served in the Departments of Information Technology, Administrative Reforms, Pensions and Public Grievances as well as Special Secretary, Telecom and Secretary, Telecom Commission. His last posting was as Secretary, Department of Consumer Affairs. (ANI)