The Air Chief stated Pakistan will have an aircraft ready in 5 years time and that China is going to provide technical assistance to the aviation sector in Pakistan. From where i see it, the only way the project will bear an aircraft in 5 years is if PAF has bought the rights to J-31 or is acquiring full ToT for the J-31 and will subsequently produce its own aircraft. There is no way that Pakistan with limited resources will be able to 1)learn how to design and aircraft let alone a 5th gen one, 2) learn how to design, manufacture, and mass produce a modern jet engine, 3)develop top notch avionics including radar, ECCM, ECM ect.
What it could do is scrounge up enough money to acquire the project en whole like Turks did with ATAK and get the chinese to teach them as they go. That is still a great option /accomplishment, and has been the pattern with Azmat FAC, Zarb, Buarraq UAV and Barq Missile. They buy the production rights and develop their own variants by the second generation of the system. The chinese infact started the exact same way. Infact the JF-17 is the first aircraft completely built in Chinese know how (J-10 has clear Lavi design themes albeit may only have been a stepping stone).