LC all the way
I am also a big fan of Landrover and enjoyed one back in 91-92 it was my father official car in Pasni, Gawadar, but when you talk about reliability, nothing else than LC.
A quick comparison could be that most of the pajero and even Landrover are converted to Toyota engines. Really you open the sales section of pakwheels and most of the 1st gen pajeros and landrover defender would be converted to toyota engines.
I currently own HJ60 with 2h, 3980cc, 6 cyl, 400000 kms driven without overhauling and normal life of this engine is about 6-700000 kms and with this beast I got 10km/l on saturday Sept 22, 2012 while driving from Lahore to Jhelum at a speed of 90-100 km/h without AC.
Landrover could be very powerful in terms of offroading etc. but there is another thing these vehicles are not designed for the quality of fuel we have here.
Even toyota with there new D4D technology is a big failure in pakistan it does not mean that the technology is failure but the reason is that it is not designed for the fuel quality we have.
also you can get all the LC parts easily in pakistan.