No, the reason for going for more F-16s is because of the speed in which they can be procured and integrated in the system of PAF they are stop gap jets, as soon 5th gen will be available (even in limited numbers) it will take its place as PAF has turned down its plans to procure J-10 to save money for it. PAF know they will need 5th gen planes after 2022 till then F-16s & JF-17 can hold their own against IAF in a NCW environment and both will be upgraded when possible, JF-17 may be first jet to get an AESA radar in PAF.
Here you Indians are always wrong, used F-16s are much cheaper to operate and procure they can be rapidly inducted due to already available infrastructure and training while J-10 will take time to master and induct it will be more costly to have while it will be little inferior to F-16s.