You have presented a very valid argument but it fails to take a very important aspect into account, the introduction of AWACS and a fully fused C4I network on PAF's side. PAF has adopted a cost effective solution, instead of arming every plane with a capable radar, she has adopted to install force multipliers(AWACS, 3D Radars and Active/Passive Radars) to mitigate this factor. All aircrafts assigned for AD roles will be data-linked to PAF's command and control centre.
This will enable the JF17 to roughly spot the MKI at approximately the same time as the MKI spots JF17. During the 2008 probing incident, although the AWACS on PAF side were not online they were able to track and vector in interceptors in less than 2 minutes towards the border. That should tell you how capable PAF's radar network is. No matter how much RAM coatings are applied on the MKI, you will never be able to reduce its RCS to a level of that of a Rafale or a EF. Its structurally designed in such a way from its inception, the least the designers can do is reduce the RCS to a minimum level and thats that. MKI is a very capable machine no doubt. If MKI and JF17 were going head to head far out in the ocean without any backup, my money would be on the MKI but wars are not fought 1 on 1. A cohesive strategy that is designed to get the maximum out of each and every asset is the name of the game today.
If it were up-to me i would scrap our Armed Forces and use that money for social uplift of the poor, employment generation, education and healthcare.