I am in the camp where I will wait for more details as the story enfolds. However, the issue that is not up for debate is that the need for additional transport aircraft has existed for a number of years now. Even before the loss of C-130s in the last few years, we were stretched thin and those losses just exacerbated the issues.
Secondly, as
@airomerix hinted, and we all understand, despite upgrades to avionics and slep, our C-130s are very old and the need for fleet replenishment is coming due sooner or later. We have multiple threads and posts comparing options for medium lift aircraft, both new and used, and C-130s usually top the list for both cost and capability.
In the next decade or two, where PAF will need to replace and not just augment its current transport fleet, it might buy additional C-130s again or may look at alternatives from China and/or Brazil. However, China currently does not have a good aircraft in the same class and Brazil's C-390 is still too new for a cautious PAF to jump the gun on. Once it's in service with more countries and in greater numbers, and it's operating costs more transparent, it could offer a second option for diversification (if deemed necessary).
Still I am glad PAF is taking this seriously. It wasn't long ago when I raised this issue and we were told by the some of the same members here that US has been withholding C-130s since they offer strategic airlift for Pakistan.