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Despite extensive research on water scarcity in Pakistan, little is known about Pakistan’s options in addressing its quest for water security. This study analyses Pakistan’s options to address its water security in the light of contemporary challenges through qualitative method of text review of some important primary and secondary sources. An analysis of these documents reveals that in addition to the much debated factors of climate change and population increase, Pakistan water security is under challenge from Indian dams on the Western Rivers in the disputed territory of Kashmir, Indian threats of abrogating the Indus Waters Treaty, Afghanistan’s claim on river Kabul, the seceding role of the World Bank and Pakistan’s internal water feuds. In view of these challenges, Pakistan can live with the present Treaty but can also welcome another multilateral treaty which will include China, and Afghanistan as well. With the US clearly siding with India, Pakistan can employ Chinese clout and the deterrence power of its nuclear weapons to thwart Indian hydro-hegemony on the Indus. This study is part of the recent research on Pakistan’s quest for water security and will contribute to future research on similar topics.