Let me sum it up
12 Kfirs
First delivered to SLAF in 1995/1996 with the airframe age of 17/19 years old. By now these are 32/34 Years old airframes.
Later in 2005 more were upgraded delivered by now which are atleast 37/39 years old.
(could be replaced with FC-1/JF17 as sources say the Visit to China might pen down a deal similar to russian easy loan based to replace aging Kfirs whose airframe is already very old.)
12 F-7BS/FT-7/GS
First delivered in 1991/1992, later in 2008 more were delivered, possibility of 3 F-7BS to GS upgrades could take place or might not and drag a few more years.
Replacement candidate FC-1/JF-17 fits the bill and covers A2A/A2G role.
7 Mig-27M
Slightly upgraded delivered in 2000, of them a few crashed. When delivered the airframe was already 18/19 years old from the serial 1982/1983. Currently the airframe life is 28/29 years old.
Future replacement could be SU-30/SU-35, could be by 2016 and onwards.
1 Mig-23UB-conversion trainer
Delivered in 2000 with an airframe life of 23/24 years old at that time and now 33/34 years old. Could be retired in couple of years.
Mig-29SMT
12 On order
Replacement with unlikely as they are the addition.
These Mig-29SMTs are to be refurbished taken out of Russian inventory of first generation Mig-29s would be heavily upgraded as per SLAF requirements.
SLAF future may look as:
Mig-29SMT
FC-1/JF-17
SU-30/35 limited number replaced with Mig-27M