Not necessarily.
A wide Viscosity Index means the use of VI improvers added to the base oil. These will degrade more quickly, leading to shearing down and change of the properties of the oil, some formulations more than others.
More VI improvers do NOT mean it is a better oil just by themselves. It means just that: that the oil has a wide VI when new.
Some of best oils have narrow VIs by design.
The choice of the oil should be based on the base oil and the additive pack, and these have many more factors than just VI.
One should choose the proper viscosity range based on the operating temperatures, the environment, and the use of the engine.
However, having said that, what you are saying may be CORRECT for the oils that are available in Pakistan, so please ignore my comments and accept my apologies if they do not apply there.