There has been urging from the Islamic world and even less domestically for Pakistan to recognize the newly independent state of Kosovo. But as also quite known, countries like Serbia and others in Europe would not approve of such a move.
This could affect our strategic relationship in the West much like the way we had to be careful when dealing with the Northern Cyprus issue in order to save our relations with Greece and the EU. So far it has been successful by Pakistan not recognizing Northern Cyprus.
The same was true in the case of Libya when the Pakistani government was openly hesitant on weather to maintain it's diplomatic relations to the Gaddafi regime or weather to take the side of the new rulers who were at that time rebels due to Gaddafi and his forces being in much control of Libya.
We were urged to recognize the new Libyan regime and from what I read, the Libyan embassy in Islamabad even voluntarily raised the new regime's flag signalling they were ready to accept their most likely new leaders.
But still Pakistan hesitated. Then a few weeks later, the rebels became victorious. Gaddafi was killed and the will of the Libyan people prevailed. That was the right time and until then Pakistan kept a neutral stance. NATO and the EU had recognized the new regime the whole time, but Pakistan waited until the time was just ripe and it worked just fine.
The same example must be learned in regards to Kosovo. Pakistan must reject pressure from both the Balkan and Eastern European countries as well as the Islamic world. If any UN resolution is cast on the recognition of Kosovo, Pakistan must abstain. Only until a compromise between both sides in favor of and against an independent Kosovo is realized, Pakistan should not pick sides.
Though I do favor Pakistan not being involved in affairs that do not concern it, there are still a few interests to protect and strategic alliances to be made/maintained; hence any sort of premature move could have difficult consequences.
Pakistan can start by learning from the Libyan conflict for a "right time" to recognize or not recognize Kosovo.