KARACHI - Overwhelming number of All Pakistan Textile Mills Association members urged APTMA Chairman Tariq Mehmood to call for immediate closure of textile mills in protest against unscheduled gas and power loadshedding. There was a heated discussion on the textile industry situation in the context of serious issues being faced by the industry during the general meeting of the APTMA. Members strongly demanded undertaking planned closure of mills resulting in curtailment of production and layoff of workforce and lodge protests by staging demonstrations across the country. They said that the bank loans are not serviceable and Aptma must collectively decide to stop payment to the banks. Since the world's highest interest rate is not workable, immediate reduction in interest rate is required. CIB reporting period of 90 days must be enhanced to 360 days, they urged. MDI of Wapda for December 2008 and January 2009 must be waived off as Wapda has failed in its responsibility to provide reliable power. They urged that payment of Sui Northern Gas Pipeline (SNGPL) bills must be stayed for 90 days, as SNGPL did not meet its responsibility to supply reliable gas. The benefit from the devaluation of the Pakistani rupee has been more than offset by the increase in inflation, they viewed. The members unanimously resolved to mandate the APTMA Chairman to settle these issues with the government on warfooting, failing which, the chairman is bound to call for closure of the industry.