There are a few basic questions before giving you a reply to your query.
First, how much is your budget?
If it's in between 1.5 to 2.0million you have a few choices in locally assembled new cars like Honda City, Toyota Corolla, Suzuki Swift, Suzuki Ciaz, etc. and Toyota Aqua, Prius (registered), Honda Fit (may be) and a few other 1000cc models like the latest Passo and Vitz. Somehow or the other, I don't consider Cultus as being in the same league of cars.
2.How much will be your intended running per month?
If it's under 1000km a month then your main objective should be comfort and not economy. However, if you intend to drive in excess of 1800 kms a month than a hybrid vehicle will certainly has its benefits in terms of economy.
3.How concerned are you about the re-sale value?
When I change/buy a vehicle, this is of least importance to me as value for money (VFM), comfort, and does-the-job are my primary objectives. I may be among the minority who think like that. So if you are representing the majority, locally assembled cars have more re-sale value compared to the imported ones (barring few models), however, on a VFM scale, I find them lacking behind. I mean look at the Honda City at Rs.2.0m and the gadgets that they provide in this amount vs. the gadgets found in the imported vehicles of the same amount. I say this because it will be your first car and you may want to have all the paraphernalia attached with the vehicle, but again that's a personal choice.
4.How concerned are you about the comfort?
I've driven both local and Japanese vehicles, and I rate the imported vehicles above. Plus, automatic transmission removes a lot of stress out of driving--both physical and mental. And the age old concern that there aren't many mechanics and spares if anything goes wrong with the auto transmission, has gone out of the equation with the plethora of imported vehicles, majority of which are with automatic transmission.
5.How concerned are you about peace of mind? Or are you happy to learn and amend?
Any zero meter vehicle gives you more peace of mind than a pre-owned one--period. Having said that, now consider which new cars are available in your budget and then compare them with the available imported vehicles in the same budget and then take a decision based on pros and cons of both. For arguments sake we can say that you've got Rs.1.5m with you. Which locally assembled cars are available in this price range?
Suzuki Cultus (1000cc) different variants are in 1.34m, 1.46m, and 1.57m
Suzuki Swift (1300cc) different variants are in 1.475, and 1.610m
FAW V2 (1300cc manual) 1.2m
Corolla, City, and Ciaz are all out of this price point
(The above prices may vary, they are just to draw a comparison)
Now consider which imported vehicles can you buy in this price range. There will be a few 1000cc models in this price however, please note that 1.5liter engine vehicles in this budget would almost all be older models and possibly run a lot on Pakistani roads already, so it may be hard to find a vehicle that has enough juice remain to be driven around for a longer period of time.
Aqua is a wonderful car with its 1.5l engine and hybrid technology, however, the better Aquas that I've been seeing these days are in the range of 1.8-2.0million rupees. I mean this price range gives me the peace of mind that the vehicle that I'm buying gives me good VFM and will be relatively trouble free for at least 2-3 years. I haven't seen the car that is offered to you so can't comment on its condition and durability. So if you can dish out that much amount, I think you should consider a newer model, with low mileage, especially since it will be your first car.
Now if I were in the similar position and buying my first vehicle, I would buy a vehicle for an interim period of, say, 8-12 months. In this period I hone my driving skills and get to know the dos and don'ts of keeping a vehicle. Hopefully in this period I would also be able to get to learn a few tricks of the trade. The vehicle that I may chose for this period would not consume 70% of my budget, meaning I would buy a vehicle in or around 1.0million. I wouldn't mind buying a locally assembled Cultus, or City in this budget, or I may find a pre owned (registered) 660cc vehicle like Mira, or Alto, drive it for 8-12 months, develop my skills, and hopefully save a few more bucks in that time period to be able to buy a VFM vehicle to be kept for a longer period.
Apologies for such a long response, something to do with age I guess. Regards