The quarterfinal match of Pakistan was against Australia. Pakistan scored 213 runs. Australia started steadily but wickets regularly fell during the middle overs. The match gained a lot of attraction due to the on-field rivalry between Australian all-rounder, Shane Watson and Pakistani pacer, Wahab Riaz. Wahab's spell was praised despite not picking up many wickets. Pakistan dropped catches during the first power-play and conceded many runs. The partnership between Steve Smith and Glenn Maxwell allowed Australia to win the match. As a result, Pakistan were knocked out of the tournament. The match was the final ODI for Pakistani's captain Misbah-ul-Haq and experienced all-rounder Shahid Afridi.
In 2002, Pakistan participated in their second Asian Test Championship. It was originally planned to include all four Asian ICC full-members (Bangladesh, India, Pakistan and Sri Lanka). However, before the tournament started, India's participation was put in doubt. After defeating Bangladesh in the 1st Test to meet Sri Lanka in the final, they were defeated by them by 8 wickets.
The 1992 Cricket World Cup in Australia and New Zealand marked Pakistan's first World Cup victory. It is remembered for the comeback Pakistan made after losing key players such as Waqar Younis and Saeed Anwar and being led by an injured captain Imran Khan. Pakistan lost 3 of their first 5 matches and were nearly eliminated in the first round of the tournament after being bowled out for 74 runs against England, until the match was declared as a "no result" due to rain. Imran Khan told the team to play like "cornered tigers", after which Pakistan won five successive matches, including the semi-final against hosts New Zealand and the final against England.