Time is never on anyone's side...but there is such a thing as...
1) taking a calculated risk
2) thinking smart
One doesn't always have to follow a linear path...just bcuz the rest of the world followed that path and is now "successful"(in whatever field it may be).
Like for point number 2...we see that most developed countries of today(let's say US and western European countries)..first had landlines...then eventually as technology progressed...they eventually went on to have cell towers. Should a country like congo first start laying landlines...and then eventually move to having cell towers on its path towards development?
No the smart move would be to just skip that step...and take the leap forward keeping in mind the future.
Just like that...purchasing stuff to plug holes NOW...only meets our needs for NOW. On this end India will always be a step ahead. Pakistan cannot outspend India nor match it. It will always be in catch up mode. Secondly...at the pace at which India's private sector is picking up and getting involved in their defense products...it would be foolish for Pak to underestimate this development. Western giants like Boeing and Dassault are lining up and partnering with their private companies...along with Indian government also providing them work share. It won't be long before these private companies will have massive amounts of capital for their own R&D and would start partnering with universities for research and attracting top talent with lucrative pay/benefits..
...basically following the path we already see established in the US with defense giants like Boeing, Raytheon, Northrop, Lockheed, Bell, etc.
The only option for Pakistan to compete...would be to have its own private sector...just so it can at minimum keep up.
Now for number 1...taking a calculated risk. Here I'd use the example of Tariq Bin Ziyad's "burn the boats". If one is to think about it in the sense...that they were outnumbered...in a foreign unfamiliar territory...with limited logistics and then to burn the boats...their only way back...
...trapping themselves with numerically superior enemy ahead and the sea behind them..it seems foolish on the surface of it. However this was a calculated risk as it made every soldier fight harder...knowing that it's definitely a death sentence to try and run...the only chance at survival is through.
...in that same manner...knowing the capability gap. Knowing India's IBGs(which have already practiced maneuvers at vast scale in their exercises)...and the need for attack helicopters...
...I still think that Pak can get by for now. Any war that would occur would be at a limited scale for now. The reason being mainly China's recent and ongoing activity on India's north. Of course India is not gonna try to show weakness...but the reality is they are deeply concerned by the two fronts that was their nightmare. Their military minds would be desperately hoping to have temporary peace with Pak just so they can contend with the juggernaut to the north. So a full scale war with Pak would be the last thing they would seek out in the short term at least. Of course I could be wrong and a war could start tomorrow.
...but based on my assessment above...I would say Pakistan should use it to its advantage.