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Option 1: Mohammad Ali Jinnah. While Jinnah played a key role in the creation of Pakistan and is often referred to as its founder, he did not actually coin the name `Pakistan`.
Option 2: Fazlul Haq. Fazlul Haq was a prominent politician in British India and a supporter of the creation of Pakistan, but he did not coin the name `Pakistan`.
Option 3: Liaqat Ali Khan. Liaquat Ali Khan was the first Prime Minister of Pakistan but he did not coin the name `Pakistan`.
Option 4: Choudhary Rehmat Ali. Choudhary Rehmat Ali is credited with coining the name `Pakistan` in a pamphlet he published in 1933 titled "Now or Never: Are We to Live or Perish Forever?". In the pamphlet, he proposed the notion of a separate homeland for Muslims in India and introduced the name `Pakistan` which stands for Punjab, Afghania, Kashmir, Sindh, and Balochistan.
Therefore, the correct answer is option 4.