Fluorophosphate (PAKCLf: P$_2$O$_5$–Al$_2$O$_3$–K$_2$O–CaF$_2$–LiF) glasses with Dy$^{3+}$ concentration of 0.01, 0.05, 0.1, 0.5, 1.0, 2.0 and 3.0 mol% were fabricated by pouring the melt and sudden quenching process. The glass stability factor of 106°C was calculated by glass transition (563°C) and crystallite (669°C) temperatures. The energy bandgap (E$_g$) of Dy$^{3+}$:PAKCLf glasses is calculated for (${\alpha}$hm)$^2$ (direct) and (${\alpha}$hm)$^{1/2}$ (indirect) allowed transitions. From optical absorption, the oscillator strength and spectroscopic intensity (${\Omega}_{2,4,6}$) parameters by performing Judd–Ofelt calculations were estimated to evaluate the radiative transition properties of ${}^4$F$_{9/2}$ level in Dy$^{3+}$ ions. The emission spectra consist of two intense bands in blue (485 nm: ${}^4$F$_{9/2}$${\rightarrow}$${}^6$H$_{15/2}$) and yellow (576 nm: ${}^4$F$_{9/2}$${\rightarrow}$${}^6$H$_{13/2}$) regions by stimulating at 349 nm. The decay curves demonstrate the non-exponential nature from 0.5 to 3.0 mol% of Dy$^{3+}$ and fitted well to the Inokuti–Hirayama model. The findings of stimulated emission cross-section (5.20 ${\times}$ 10$^{–21}$ cm$^2$), optical gain (29.59 ${\times}$ 10$^{–25}$ cm$^2$s), and quantum efficiency (97%) for Dy$^{3+}$:PAKCLf glasses could be potentially utilized as optical devices. The photometric parameters like CIE colour coordinates and correlated colour temperatures (CCT:6300-6900 K) of Dy$^{3+}$:PAKCLf glasses reveal the application of white light-emitting diodes.