Some corrections!
Although TWRs are often calculated with AB thrust, the dry thrust is more important, because fighters used that mainly. If you compare these, you will see the difference of single and twin engines in this regard:
Gripen NG - 62kN
F16IN - 84kN
Rafale - 100kN
Mig 35 - 106kN
EF - 120kN
F18SH - 124kN
Add that the F16IN has a higher emptyweight than the Rafale, won't remove the CFTs (because you would also remove the inflight refuelling capability), which means even more weight, it should be obvious that its maneuverability is restricted.
The main design and the US weapons are war proven, but neither the UAE B 60s, nor the IN techs and engines are.
According to reports from Greece, their Mirage 2000s has better EW systems then their F16 B52+, because the US downgrades the export versions more than others do.
The F16 B52 radar has no range of 180 - 200Km and neither will AESA give twice the range.
LM officially stated that an F16 with wingtip missiles only, could SC at mach 1.1, but only for very short times, which means SC is not possible.
At the end the F16IN is just an upgraded old design, with no future potential and like Kakgeta said, would offer PAF more advantages, than IAF, because of decades of experience with this type. AESA, or slight changes aren't important here.