I just got time to research a little online and it again seems a case of government making haphazard policies that aren't thought out or provide a complete solution after regulating a transaction like mobile phone import.
IMEI verification rule suppresses cell phone imports by 41% in March
I will try and muster stamina to talk to the guys at PTA and if I manage to do that, I will report it here.
Edit: Another dead end. I just found this thread where some fellow Pakistanis are facing this same problem.
http://www.wiredpakistan.com/index.php?/topic/21285-pta-bans-mobile-phone-import-without-imei-online-ordering/
No one in the PTA office or government would ever bother looking online for such complains. I am not too hopeful for a solution to this. I guess I will either have to drop the idea of the phone or find a 'doosra rasta'.