Pakistan's missile technology seems to have come a long way. For example, its ballistic missile inventory includes solid-fuel based systems such as Shaheen II, and it has an arsenal of LACM in the form of Babur and Ra'ad for the Army and Air Force, respectively. However, what else could Pakistan do based on its capacities and, more importantly, its partnerships with countries such as China, Turkey, Brazil and maybe South Africa.
There are a few things I want to note or recall.
1. I'm not sure if Pakistan developed the turbojet (or turbofan) propulsion used by Babur and Ra'ad, i just don't know. But I do know that in 2006/2007 Pakistan signed an MoU with Turkey agreeing to develop turbojet technology for missiles. One way or another, I'd take it as an indication that as far as cruise missile propulsion goes, Pakistan 'has it down' or will secure the technology (for indigenous production) soon.
2. Pakistan seems to have a fairly strong supply-line through China, and as a result, it may not see the need to develop certain systems, especially tactical solutions such as anti-ship warfare, among others. It boggled my mind as to why Pakistan didn't have its own precision-guided-bomb kit for its Mk-series bombs even though every other country in the sun (including UAE) had its own solution, but the existence of China may be the answer. Why commit financial resources for weapons for the sake of having them? Right?
3. With a few exceptions, I think the bulk of Pakistani missile development moving forward will focus on stand-off missiles for use on platforms such as aircraft and submarines. In other words, further development and/or variants of Ra'ad and Babur LACMs. The exceptions to this might be more specialized missiles, especially air-to-surface solutions in the form of anti-radiation missiles, potential H-2/H-4 glide-bomb successors identical to J-SOW, etc.
In any case, here are my specific projections.
Ra'ad is the originator of Pakistan's ALCM capabilities, I see it evolving. For example, it wouldn't surprise me if the Ra'ad airframe were further developed into possessing a lower RCS (i.e. being stealthier). In addition, this could see an increase in range, thereby crossing the 350km mark and possibly touching alarmingly strategic milestones. In parallel, Ra'ad may also find itself watered down to below 300km in range with the benefit of being lighter and smaller, thereby allowing a single JF-17 to load out on multiple ALCMs.
Another develop I see happening is a replacement for H-2 and H-4. Imagine something identical to J-SOW and JSOW-ER. The core capabilities to produce a low-RCS airframe clearly exist, it's just a matter of applying the glide-bomb technology to it. Why? Basically to extend the range and to deal with issues such as weight, so as to make it easy as possible for use on JF-17s and potentially other platforms.