ISLAMABAD: Sheikh Mohamed Bin Zayed Al Nahyan, president of the United Arab Emirates (UAE), has given hints that his country intends to increase its investment in Pakistan. Pakistan urgently needs foreign investment to support its faltering economy.

The prime minister of Pakistan, Shehbaz Sharif, welcomed the royal dignitary at Chandna Airport along with other government officials when he arrived in the country on a private visit. They then met in private.

During a friendly conversation with the prime minister at the airport, the UAE president is quoted by the sources as stating, "Be ready, the UAE will make a significant investment in Pakistan."

PM Shehbaz mentioned his most recent trip to the Gulf nation and emphasised that both nations will seek to implement the agreements made between the two leaders in a number of areas during his trip to the UAE.

According to the president of the UAE, their brotherly ties date back many years, and his father, who had a deep love for Pakistan and its people, lay the groundwork for their bilateral relations.

The UAE would always support Pakistan, the president also gave the prime minister assurances.

The premier posted on Twitter: "We were overjoyed to welcome my brother, His Highness Sheikh Mohamed Bin Zayed, to his second home, Pakistan. We talked about methods to further develop our fraternal ties in light of our previous meeting."

When the prime minister first arrived in Pakistan, the president showed him genuine sympathy and escorted him to his private jet, according to sources quoted by Geo News.

According to the reports, the premier also interacted with the president's family and spoke to his children in both English and Arabic.

The UAE's financial assistance gave the nation, which is still recovering from devastating countrywide floods that have cost more than $30 billion in damage, some solace.

The loan announcements were made as PM Shehbaz began a two-day trip to the United Arab Emirates. The premier said in a statement that "this support will help us weather economic hardships."

According to information minister Marriyum Aurangzeb, he met the president and spoke with other government representatives and business executives about commercial and economic potential.

External finance is essential for Pakistan's faltering economy because the IMF's ninth review to approve the transfer of a fresh $1.1 billion tranche of money to Pakistan has been on hold since September.

According to the State Bank of Pakistan (SBP), its foreign exchange reserves, which are barely adequate for three weeks' worth of imports, have dropped to a catastrophic level of $4.3 billion.

According to the bank, commercial banks held net foreign exchange reserves of $5.8 billion and total liquid reserves of $10.1 billion.