I am no economist but tried to understand the issue with our economy. Loan is not a problem - there are countries which are far smaller than ours that have huge debt.
Just an example - US has the world’s largest debt and that too given by China and Saudia. US can never pay it back. So loan in not the issue. But US generates/produces things like weapons, medicine, technology, education and stuff that the whole world depends on. So it sells for those items and earn money.
With 250 million population we are a huge country and great potential. The main issue is that we are consuming/eating more than our capacity to generate. Pakistan doesnt make/produce enough items/goods to sell to international markets. We buy more from international market and sell less. Our population despite being huge is not employed. We dont have structure/system to utilise majority of population.
Despite being an agricultural country we can’t produce enough cotton, sugar, oil, rice and at times wheat.
Biggest problems are political will is missing, govt sector is non functional, industrial standardisation is not found, water conservation/dams, cheap electricity generation, shortage of industries, huge oil import bill, tax collection, shortage of skilled technicians, technology experts.
we are simply a burden on our own country and in order to survive we take loan just to feed the population. We need to get most of the population educated, skilled, generate opportunities so that we can sell things to world.