Not if said eye ball met The Crow.
On a serious note, there is no doubt that Pakistan has financial problems, and it's not news to hear that the Pakistani Navy is getting the shortest end of the twig (i.e. of expenditure allowances).
That said, with the current operation in the Tribal Areas winding down and the PAF reaching the highest arc of its current modernization needs (i.e. the initial 150 JF-17 order will be completed by 2020), I think the PN will get a funding boost.
Not sure if it will be enough to fund the apparently desired 20-frigate fleet, but I think at least 4 or so 3,500 ton multi-mission frigates with area wide air defence capability can be had, along with the 6-8 SSKs. I doubt we'll see a mutlirole corvette, but a lighter ship focused on ASW alongside fast attack boats (such as Type-022) is possible.
Goes without saying that a lot of this will depend on how generous the Chinese are going to be with financing *and* if Pakistan stops committing so much on the Tribal Areas. There is no way we can expect the PN to be built up with annual full-scale operations in FATA.