Considering how often Pakistan calls for nuclear war or it addresses Osama as a martyr, I would put it along side North Korea in terms of a global threat.
Last I remember when Indian elections were near, it was India that attacked Pak, but failed and its pilots got captured. Who were later returned without further escalation on Pak side. Pulling stunts like that and risking ww3 over elections would seem to indicate Indian govt to be a bigger threat to world peace. Not to mention complete disregard of human rights by occupying kashmir and oppressing natives there.