Wiktionary
n. (context India Pakistan English) A regular party, usually organised by women, where each member contributes a certain sum of money.
Wikipedia
A Kitty party in India and Pakistan is a party usually organised by women.
Kitty refers to the amount collected at the party. Every member contributing a certain sum of money a month. The kitty is handed over to one member of the group every month. The chit funds operate along similar principles.
It is usually held at a specified time each month, by a specific group of women. Every member of the group has to host a party at least once. The hosting member organises food and other logistics, and the party is usually a gossiping place for women. In most of Pakistan, it is usually simply referred to as a 'committee'. Some times fun games are included in party. The parties can be theme based. The dress code, food and venue decoration is done as per the theme.