Whole APFSDS definetly not when you want to use term " South Asia" becouse Singapour Leo-2 are using DM-63. The same Korean K-2 tank is using quite modern home-made South Koreean 120mm APFSDS ammo based on DM43. Both rounds have, better abilites then 125mm rounds using in Asia. We can't forget about Austarlian Abrams* - KEW-A2 is more potent then other 125mm rounds in Asia.
But if You are asking about only 125mm APFSDS ammo then it's on top used in Asia 125mm APSFSDS ammo.
Polish PRONIT, israeli Cl.Mk2, Indian clone of IMI round - all of them have guaranteed 500mm RHA at 2000m and achivable 550mm RHA at 2000m.
If Pakistani round have guaranteed 550mm RHA and achivable better value - then it is better. But we shoudn't forget about chineese 125mm ammo - avaible in China ammo can achive 600mm RHA at 2000m.
Short: Naiza is definetly not the most powerfull APFSDS ammo in Asia -couse DM-63 in Singapour and KEW-A2 in Asutralia, and South Korean clone of the DM43.
But in term "125mm APFSDS" is one of the top - only Chineese shoud achive more (~600mm RHA at 2000m), rest ammo used in South Asia (Iranian, Indian, Malesia, older Chineese) is whorse then Naiza rounds -if Naiza can achive 550mm guaranteed perforation - not achivable). If those 550mm RHA is achivable then Nazia is the same as polish Pronit or Indian 125mm...
*Damian -any inos about ustrallian tank ammo?