I think Pakistan will not compromise on Nuclear weapons program. However, other conventional spending is already impacted.
3rd type 54A frigate was expected in december / january. Its still not delivered, Addtional J-10s etc. I think China can easily absorb these equipments within her own military if Pak does not meet the payment schedule.
I also want to point out that just 4 or 5 months ago, I used to saw posts from members in PDF that Pak should buy that, should buy this, Type52D destroyers OR blabla, There was a guy who used to debate with me with his most silly arguments that Pak should install a J-10 assembly line in Pakistan. I used to be critisized by same folks for bringing "politics" in security matters. I only was practical and was telling that since the new regime has taken control, the insane & evil policy of banning raw material needed for industry & exports is destroying our economy and there is no way we could buy all this stuff, I was even concerned that items already bought and in pipeline may get cancelled too... As no exports = no money. PDM Govt was required to boost exports not the other way around.
So, yeah IMF would rightly ask to suspend all these billion dollar equipments if you want money for basic necessities like food and petrol. Irreparable damage done to industry already, hope whoever comes in power focus on it and revive it, otherwise things will only go worse.