Well, you are quite young so just give yourself this allowance that you have yet to see a lot more in your lifetime.
Grass is always greener on the other side.
I've lived in Karachi, Lahore, Dubai, UK (for a v short time though), Islamabad, and currently back in Karachi. You would always think from news, acquaintances and people who haven't gone out of Karachi that people in other part of Pakistan are better. That's not the case however. There are some pluses some minuses everywhere you go in Pakistan. I won't go into detail about that however just know that people who live all their lives in Karachi would always judge Lahore from the news and the little they see without actually living there and interacting with the people there on daily basis. On the other hand, people in Punjab seldom travel to Karachi (nor they like to) as the reputation of Karachi in front of other Pakistanis is just like the reputation of Pakistan itself in West. It's all shaped by the media and actually it is a lot better than what is projected there.
There are tons of issues of living abroad these days for Muslims, especially Pakistanis who are generally looked down upon everywhere in the world you go to. But since you are getting better standards of living, you tend to accept your fate of living life there as a second rate citizen.
I also had a choice to live abroad and chose to come back. I used to regret just like you, but with time realized that it is quite futile to think what could have been and in fact a very wrong way to look at life. In reality, there's little one can do to change what's in the fate. A lot more can go wrong even in case you actually get what you desire.
The whole mindset can be changed if you just start being grateful, grateful for all the little and big things you get in life. Like you are in IBA, once you will graduate you have a lot of options to earn and improve your lifestyle. So already you are better than 99% of the youth living in Pakistan that have dim future ahead. Isn't that something to be thankful for?
Just learn to go with the flow and start accepting everything without getting too worked upon. Empathize. All the negative feelings will go away and you will start enjoying life. It's all in your mind, after all, the way you think about your life and other stuff are your own feelings. Take control of that!