KB,
at this time the FC-20 with western avionics suite and BVR is the best the PAF can do in the next 3-5 years. all 4th gen western a/c are off-limits not because france or even sweden wont sell it to us, it is actually the money. PAF due to its limited resources will always like greater bang for its bucks (read quality and quantity). what will the indian MMRCA be in the end, your guess is as good as mine. the IAF seems to be very happy with the Su-30, so the MiG-35 IMO is right in the thick of the battle with the Boeing F/A-18E/F Super Hornet. one more thing, a fully souped up FC-20 will be just as good as a F-16C blk 52. so thats not a bad thing IMO. the rest is left up to pilot training.