Pakistan, long troubled by the naval buildup of arch-foe India, has struck a deal to lease up to eight of the 16 U.S. Navy frigates that are being retired for budgetary reasons, officials said Friday.

The deal, outlined to Congress on Thursday, makes all the more final the Pentagon's grudging decision early this spring to suspend the Reagan administration's drive for a 600-ship Navy.The Navy declined Friday to say how much Pakistan would pay for the warships. But according to figures compiled by the Defense Security Assistance Agency, the highest rental fee that Pakistan would be charged for eight frigates would be $6.31 million per year.