Pakistan has rejected as baseless US think tanks reports that the country's nuclear stockpile could become the world's third largest.

The Washington Post quoting reports published by two US think tanks said this week that Pakistan could become the third largest nuclear stockpile within the next five to 10 years, behind only the United States and Russia.

"We reject the report's assertion that Pakistan has the fastest growing nuclear arsenal as utterly baseless," the foreign affairs spokesman said in a statement on Friday.

The report published on Thursday by the Carnegie Endowment for International Peace and the Stimson Center said that Pakistan was far outpacing its rival neighbor in the development of nuclear warheads and may be building 20 nuclear warheads annually.

The spokesman stated as a nuclear state, Pakistan's policy is characterized by the utmost restraint and responsibility.

"We strictly abide by the concept of credible minimum deterrence and our nuclear program is only aimed at maintaining peace and stability in South Asia. Pakistan has no desire to engage in nuclear arms race," the spokesman said.

The report quoted analysts as claiming that Pakistan possesses around 120 nuclear warheads as compared to India's 100. The report also said Pakistan could have at least 350 nuclear weapons within five to 10 years.

The spokesman said such reports have the effect of diverting attention from the exponential increase in India's fissile material stockpiles as a result of nuclear deals with a growing number of Nuclear Supplier Group countries and its destabilizing consequences for the region.

He said Pakistan has put forward several initiatives to promote conventional and strategic stability in South Asia, including the proposed Strategic Restraint Regime, but regrettably India has failed to respond positively.

"Pakistan remains committed to the global objectives of disarmament and nuclear non-proliferation," he said.