Depends on your budget.
If your budget is limited to the cost of a Swift (AT) then swift is the best. If your budget is capped at Honda City 1.5 (AT) then that's the best car, better than an XLI/GLI (MT) at that price range. Corolla gets good at the Grande Level. Right below that, City 1.5 is the best to go for.
In terms of resale, Pakwheels fished out the numbers on different cars from the sales posts people put up and made a great blog post. Honda City has the best resale over the course of 5 years, 2nd was a Mehran, and 3 (or 4th) was a Corolla. link
In terms of fuel economy, Honda City wins again. Reference a Pak Wheels Survey.
In terms of response time, power, engine and handling responsiveness, City for sure. I've test driven all these vehicles and Swift is nimble. Corolla 1.3 is underpowered, and 1.6 is alright but when you make that Automatic it's roughly a 200k difference and not worth it. Both lose to the 1.5 City and its suspension/seats/gearbox that are intended for the Urban racers. (Flipside, the seats aren't lazy boys but more in the "I'll hold you in that position, and give you a small hug on the sides while doing it" However, people often complain that they are very stiff. I beg to differ, but that's a personal preference).
If you do get the city, switch the tires to 185s. Factory is 175s. This takes care of the stiff suspension complaint that many people have, but then that's one of the reasons for the great handling that the car has, as opposed to the fluid suspension of the corolla that makes it float on the road and essentially has no grip of it.
Hope that answers your question. Sorry I went on a rant 
