1) PAF does not only have F-16 we now have 50 JF-17s as well and more to come in future.
2) As soon as PAF learned about Rafale, started to discuss J-10B with China which we eventually did not buy because India did not signed Rafale.
3) Yes IAF has greater numbers but it does not have all the aircraft in flying condition, according to one of the sources MKI has only 50% serviceability i.e half are present to fly and rest are in maintenance. Russian aircrafts are a mintainance nightmare.
4) India cannot use all its force against Pakistan it has to keep an eye on dragon as well.