ISLAMABAD - Auto Industry Development Committee (AIDC) approved rules for assembly of vehicles in its second meeting held here Saturday under the chairmanship of Mohsin Syed, Chief Executive Officer of Engineering Development Board (EDB). Under these rules EDB's role has been explained in detail regarding the verification of in-house manufacturing facilities, input/output ratio determination for the imported inputs, verification of lists for imports of parts and components under TBS, receipts of annual accounts, all inputs used for the assembly of vehicles and audits in compliance into provision of Trade Policy for import of CKD kits by registered assemblers, says a press statement issued here. The main objective of these rules is to bring transparency, uniformity, predictability and fair competition amongst the assemblers of vehicles and ensure production of safe and road worthy vehicles. The auto industry assured that they were ready to move to Euro II standards in their new models and requested the government to assist them so that the prices of environment friendly cars may not increase. The AIDC referred the matter to the committee for technical and fiscal level issues for deliberations.   The fiscal and technical committee was asked to examine in-depth special issues of the sector, the technical, technological issues and how local design houses could be developed for indigenous automobile products.    Earlier, Mohsin Syed in his welcome remarks expressed that the objective of the committee was to encourage manufacturing of automobiles in Pakistan, develop local industry and generate jobs. The committee was informed that a draft PC-I has been prepared by EDB for establishment of technology acquisition fund, which has been discussed with the concerned authorities. Likewise, the proposal on productive asset incentive has been communicated to FBR. Under the fund matching grant would be provided to industry to upgrade their technical level.