Need help with borewell failure

Dear Sir,

I have dug a borewell last month, first we dug a 50ft bore from compressor borewell but it was not successful due to loose soil, again we dug with slow-ring processes up to 100 feet and 50 feet PVC casing 10" and 7" MS casing again the drilling was done up to 300 feet but we didn't put slated pipe, after 10 days we purchased a 1.5" HP submersible pump and installed the pump, that time the borewell collapsed up to 200 feet .

Again after 10 days we did the slow-ring up to 200 feet, we installed slated pipes up to 200 feet and we did flushing also. We fixed the pump and on water came up to 1/2 hrs, 1 and 1/2" water came after 1/2 hour water stopped as the motor jammed. The mechanic suggested to put a compressor pump. What's your suggestion ? 

Please give me some solutions, I have already spent Rs. 225000 the water level is55 feet.

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