Bro, I would suggest to get at least 2nd opinion, before going for replacement of these items.
There is a good garage; AutoReforms, at Ali Nawaz Chowk, Rawal Road, Rawalpindi. You may visit them and tell them the whole situation. If they also say that Cat Con will be required to be replaced, along with O2 sensor, then you might have no other option other than their replacement.
I do not know about the cost of O2 sensor, however, regarding Cat Con, genuine, Kabli (which has not been treated with "Taizaab", or any other such stuff) will cost you somewhere 8K-11K PKR, depending on condition. Do check it thoroughly before purchasing.
You can purchase it from Chah-E-Sultan in Rawalpindi, but some khawari may be there.
Bro, if you have got enough money and surplus funds, then for sure, you may visit any Toyota 3S dealership, otherwise, normal good, reputed garages also serve the purpose well.
I hope, it all helps. Thank you.