2nd hand F16s that are cheap to procure and quick to deliver could make sense, but I still maintain that there is no way that the PAF is going to drop tens of billions of dollars on new build greenfield F16s at the "feet and whims" of congress over a period of a decade that it will take to deliver.
No change/reset in the relationship is going to be enough for that level of risk to be taken given that Pakistan has undergone multiple "resets" in it relationship with Washingtons, only for sanctions, restrictions and conditions to be added later and for pressure to applied "once some leverage" has been put in place that is effective. e.g. we will put your paid for F16s into storage if you don't sign on to the Abraham accords.
Pakistan has the ability to get its AH-1Z Vipers delivered if it pays for them in cash, but Pakistan has chosen to not do that and this seems be lost on the
wiseguys of the F16 mafia here.
View attachment 165186
So, every time some says that Pakistan could buy new build F16s, take a look at the above picture to remind you of why Pakistan won't take that risk again.
Right now, the Iraqis are having problems trying to maintain their F16s, getting these 34 F16s for 50(or appropriate exchange ratio) JF17Cs on barter swap could make some sense where PAF can help Iraq maintain the JF17Cs and where they have experience with the engine of the JF17C already. The cashflows can be managed, and the delivery window can be managed to reduce risk. This is a possible logical permutation "if" Iraq wants to go down that road.
Take alook at this article :
https://jummar.media/en/9209
These F16s can then be upgraded to whatever standard PAF wants, and they have alot of life left in them given how Iraq has not really used them. Out of all the "2nd" hand options out there, a barter swap for the Iraqi's ones are the "best value" for both parties involved. Nigeria has been able to maintain the JF17, as has Myanmar so it is possible for the Iraqi airforce to do the same.
So, there exists opportunities for out of the box thinking to procure 2nd hand F16s that can negate the risk of new build F16 procurement for sure. PAF will have the problem of cash flows to manage as the Americans will want any loans they provide, to be done on new builds and that is for Pakistan to solve for its alternative options.