Update 19-Feb-2015
Spent half a day looking for the flywheels puller and the clutch castle nut tool. Searched at patel para, vespa spare parts shop at radio pakistan, and boltan tools market. The search got more difficult given the fact that i did not have any reference object to show and shop people did not know of a vespa specific tool. Vespa parts shop people knew of it but said they used to have these tools many years ago.
After failing to find the items i bought the Honda CD70 magnet puller which looked like it would work.

The problem:
It did not work. It was just a wee bit larger in diameter.
The solution:
Took the puller to a lathe and got it tooled to Vespa size (had to take the engine along)

The result:
Worked like a charm and the flywheel slid right off! Can't wait to continue the work on the engine.