It depends on the version of SharePoint you're working with.

If you are working with SharePoint foundation, the only option is to create a custom webpart displaying the quicklinks. This way you can set securitytrimming on the items by using something like:

<Sharepoint:SPSecurityTrimmedControl runat="server"....

Thanks again Dennis, it was my bad not to mention SP version. It is SP Foundation and so I need to create a custom webpart. Can you refer me to some link where I can get more information on how to do this? As you know, I am only a week old SP guy and will look forward for help.

Hey SPnewb,

Im willing to help but its probably best if you specify your requirements a little bit more. Do you want to make exactly the same as the quicklaunch or do you want to be able to show for instance only the pages library. It is also important to know how you want the layout of the quicklaunch to be.

At the onset, I appreciate your helping attitude and support.
I have couple of menu items at my quick lunch left navigation. Few of them are controlled. When a user logs-in, all menu items are available to him/her. By clicking an item from menu, user used to get "Access restricted..." kind of error if he/she does not have access to that particular library.
What I want here is, to display only the menus which the user has permission. I do not know why MS does not do this (perhaps since Foundation is free), but I am sure there is some work around.
Also I am not crezy to use quick lunch as only menu option. I am okay with any solution even if this can be done by using different menu (and not using quick lunch).
Let me know what you think.

What i once did for a customer is simply query a pages library. I then created a secondary navigation list with all the navigation items which existed and did a lookup to get all the data. Because of permissions on the pages in the pages list I only retrieved items which were relevant to the user.

List<Navigatie> navigatieItems = new List<Navigatie>();
            Navigatie nav = null;

            SPWeb web = SPContext.Current.Web;

            //get pages list
            SPList pagesList = web.Lists[Constants.ListNames.Pages];

            //get pages items
            var items = from SPListItem tItem in pagesList.Items
                        orderby tItem.ID
                        ascending
                        select tItem;

            //get navigation list items
            IQueryable<Navigatie> all = factory.Navigatie.All.OrderBy(x => x.Volgorde);
            foreach (Navigatie item in all)
            {
                foreach (SPListItem menuItem in items)
                {
                    if (item.Title == menuItem.DisplayName)
                    {
                        nav = new Navigatie();
                        nav.Title = item.Title;
                        nav.Navigatieurl = item.Navigatieurl;
                        navigatieItems.Add(nav);
                    }
                }
            }
            return navigatieItems.AsQueryable();

            //create aspmenu
            menu = new AspMenu();

foreach (Navigatie nav in navigatieItems)
            {
                string title = string.Empty;
                string url = string.Empty;

                if (!string.IsNullOrEmpty(nav.Title))
                {
                    title = nav.Title;
                }
                if (!string.IsNullOrEmpty(nav.Navigatieurl))
                {
                        url = nav.Navigatieurl;
                }

                item = new MenuItem(nav.Title, null, null, url);

                if (pageViewed == item.Text)
                {
                    item.Selected = true;
                }

                menu.Items.Add(item);
            }

            Controls.Add(menu);