Aren't you forgetting something? IAF has not only Su 30 MKIs that are BVR capable, around 70 Mig 29 and 100 Mig 21 Bisons can launch R77 too. That alone would mean nearly 400 BVR capable aircrafts, not to mention that upg Mirage (Jags should be upg too, but not sure if they will get BVR capability), first LCA and MMRCA have to be added till 2015 too.
Of course the Bisons as an aircraft will be no match for PAF new fighters, but the missile will, espacially guided by AWACS!
Objectively you have to admit that the edge can't be neutralized cause PAF can't counter the numbers of fighters, nor the quality of techs and capabilities. For example, Saab AWACS will be a plus for PAF, but IAF already have one in service, the upgraded F16 and the new one will give more power and capabilities, but so will upg Mig 29/ Mirage and more MKIs. The same time when PAF will get J10B, with AESA radar, IAF will get MMRCA with same, or better capabilities, depends on who will win. Even the point that your F16 will have AIM120C5, will be gone by the induction of MMRCA, cause most likely it will have it too (F18SH and EF use it now, EF and Rafale shoud get the Meteor by then).
PAF and IAF will modernise their fleets and will give us a lot to talk about, but the edge should remain on IAF side.