Israeli F16s were inducted 1980 onward while India inducted Mig 21s 1960s onward. Both were inducted in batches and there is minimum two decade of difference between them. So if our government looks deeper, I think it will be beneficial to invest little amount in A/B version and upgrade them using kits, it will be still a great nimble fighter complemented by Tejas, Mig 29s and Mirages in Asian skies dominated by forth gen multi role jets. It is indeed cost effective solution in short end, then government should focus on long term like LCA mark 2s, AMCA, F35, More Rafales, PAKFA/DAs. that is the way forward in lesser cost my friend. If you have nay suggestions, please share.
If you say F16 is flying coffin, then I feel pity on you my friend. F16 is indeed a great plane and I admire those in charge of PAF who took early decisions in 1950s,60s and onward.