The north Africans head into their final Group A encounter against eliminated Senegal in Bata on Sunday still searching for their first win after losing their opener against Equatorial Guinea and drawing 2-2 with Zambia last time out.
Paqueta will hope his players come up against a demotivated Senegal after their unexpected exit from the competition after just two matches.
A win combined with Equatorial Guinea defeating Zambia, who sit second in the group on four points, could be enough to see Libya through, and Paqueta concedes it will be impossible not to have one eye on the match in Malabo tomorrow night.
"We still have a chance to qualify but it partly depends on the outcome of the other game," Paqueta told reporters. "Senegal are a good team but we want to win and stay in the tournament."
Senegal head into the match amid uncertainty over the future of coach Amara Traore.
Traore penned a three-year contract just last month but could be on his way out after his side, one of the pre-tournament favourites, were sent tumbling out by David Kily's dramatic last-gasp winner for Equatorial Guinea last time out, having also lost 2-1 to Zambia in their first match.
Senegal Football Federation president Augustin Senghor said this week that there would now be an "evaluation" of Traore's position, and the uncertainty is sure to have affected their preparation.
Senegal have also had the distraction of losing Moussa Sow from the camp for a couple of days this week after the striker flew to Turkey to complete his transfer from Lille to Fenerbahce.
Sow, the top scorer in the French League last season and on target in the defeat to Equatorial Guinea, is nevertheless expected to line up for the Teranga Lions.
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