@Khuziz and Cylestyne:
The 5 speed automatic gear configuration meant 4 speed forward, and 1 speed backward. The automatic transmission on the 1.6 will be the same as the current 1.8 Altis. This transmission is the international standard for all 1.6 Corolla's. The automatic transmission is gate type shift with super ECT.
The new 1.8 Altis (not coming to Pakistan sadly) has the new 7-speed forward and one speed backward configuration called the CVT-i. It has 7 speeds to achieve maximum fuel economy by keeping the car under 2000 revs even on high speed.
The six-speed manual transmission that was mentioned was actually 5 speed forward and one speed backward. No corolla in the world (except for the XRS although im not too sure) is offered with a six speed forward manual gearbox. Neither is any Corolla in the world offered with a 5 speed forward automatic gearbox.
Hope that clears the confusion. And like Ashfaq87 said, I too am a diehard Toyota fan. But 1.7 million for a smaller engined Altis? Not my cup of tea. Will be going for the Civic VTi MT inshaAllah if this new Altis isn't priced competitively.