Potassium (K) fertilizer management is beneficial for improving growth, yield and yield components of field crops under moisture stress condition in semiarid climates. Field experiments were conducted to study the response of maize (Zea mays L., cv. Azam) to foliar and soil applied K during summer 2013 and 2014. The experiments were carried out at the Agronomy Research Farm of The University of Agriculture Peshawar, Northwest Pakistan under limited irrigation (moisture stress) condition. It was concluded from the results that application of foliar K at the rate of 1–3% and foliar Zn at the rate of 0.1–0.2% was more beneficial in terms of better growth, higher yield and yield components of maize under moisture stress condition. Early spray (vegetative stage) resulted in better growth and higher yield than late spray (reproductive stage). Soil K treated plots (rest) plots performed better than control (K not applied) in terms of improved growth, higher yield and yield components of maize crop. The results further demonstrated that increasing the rate of soil applied K up to 90 kg P ha−1 in two equal splits (50% each at sowing and knee height) improve growth and maize productivity under semiarid climates.