ISLAMABAD - Meetings/visit of the Senate Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatization will be held on September 21 and 22 at Karachi.

The meeting will be briefed by the State Bank of Pakistan (SBP) on "Currency Management Strategy" with particular reference to installation of currency authentication machines in private banks to control counterfeit currency.

The Committee will also be briefed by the SBP on the audit of foreign branches of Pakistani banks as recommended by the Committee in its meeting held on January 7, 2016, a statement of the Committee issued here on Tuesday said.

The SBP will also brief the Parliamentary panel on the proposals/mechanism prepared by the SBP to control the selling of new currency notes at exorbitant rates, as recommended by the Committee in its meeting held on August 24, 2016.

According to the agenda of the meeting, National Bank of Pakistan will brief the Finance Committee on the follow-up of the implementation status of the recommendations made by the Committee in its meeting held on January 6, 2016.

The Senate Body will also be briefed on the new recruitment and promotion policy approved by the Board of National Bank of Pakistan (NBP) on April 26, 2016.

The House Building Finance Corporation (HBFC) will brief the Committee on the provision of relief to 5000 widows with an estimated cost of Rs.800 million as recommended by the Committee in its meeting held on December 21, 2016.

Senate Finance panel will also visit Karachi Port to inspect the Integrated Transit Trade Management System (ITTMS) and scanning machines installed by the custom authorities to control the growing menace of smuggling and mis-declaration and Briefing by the Custom Authorities on its working and performance at Custom House, Karachi.

Chairman Standing Committee on Finance and Revenue, Senator Saleem Mandviwalla has said that Committee is focusing on the public importance issues besides keeping an eye on the Economic situation of the country.