@JazibRoomi
First I would like to admit that your revolutionary approach unwillingly inspires me. You are right that Ijtehad should definitely be there where needed in keeping with the dramatic changes taking place all around us.

But as far the polygamy is concerned, your devised way out does not seem to be fully appropriate and plausible. Abolishing polygamy would never be a good solution as being human we can't speculate all possible society dynamics that may bring different intricacies before us in case we rule out this option.

As you said,

Its true that concept of polygamy is misconcieved in our society. Males here just use it as a tool for female suppression, to seek temptation etc. but when you say,

'Or agar kissi widow ko support hi karna hay to badlay main uska jism mangnay koi achi baat tou nahi. Support karnay kay or bhi tareeqay hain.'

Now tell me, What would this kind of support be constituted in a society like ours, where an innocent women is killed even on a suspect of being in an illicit relation with a male.
Again the victim would be that woman who gets any kind of support from a man with which she has no legal relation. This support will become instead a problem for her.

The problem in fact is not due to the permission of polygamy. That permission is rightly justified in certain situations that still are prevalent in this modern age.

As you described,

Yes, its no doubt resisted by females in our society, but its not being married with more than one woman than creates this discrimination instead its the wrong manipulation of this permission by us that makes it a mess.
Having more than one wives equitably in a just specified manner, no discrimination would happen.

Just think, even if a monogamous man does not care for his wife and her rights liable to him, would it not be a gender discrimination? would it not be unjust? Even if we rule out polygamy, women are yet discriminated in various other ways.

But yes, this dicrimination get worsen by adding the option of polygamy, particularly in our society, because We percieve it only be a way of pleasure and dominance over females..

Irony is, males who go for second or third marrige in our society, most of the part do so because thay do not like their first wife with an innocent pretext that they married on their parents' will so, they do not find any attraction or understanding with their wives. Therefore, they get married second time and mostly do not even bother to look back to their first wife. So, they just use this permission to make their own way without paying heed to the fact that they still have responsibilities towards their first wives.

Here I ask, Does Allah permitted polygamy to cater this situation?

Unfortunately, we pick everything in a peacemeal way.
Where we find any relaxation in religion we start quoting it as a reference, and where we get any comfort in society and culture, we overlook religious ruling and start calling ourselves modern by adopting those unIslamic values.

There will always be one or the other problem unless we adopt one way comprehensively.