Actually eventually the deal cost Indonesian Min-Def USD 720 mio. It will be upgraded on Air Frame and Engines based as Block 32 (US subsidies/grant), but Avionics and electronics upgrade close to Block 50 standard (Indonesian Pay). According to this article, it seems US now going to give PAF a Squad of F-16 :
US willing to help Phl get F-16 jets - The Philippine Star » News » Headlines | Printer Friendly
How much in the end it will cost PAF, it will depends on how extensive PAF willing to upgrade the electronics/avionics. Like in Indonesia deal, basically the USD 720 mio that Indonesia has to pay, is for Electronics-Avionics. Well in any modern fighter upgrade, the electronics-avionics make up the biggest chunk of cost anyway.