Best Answer - Chosen by Voters
Rather than asking what is the cheapest item to import, you need to be asking, "What do people want to buy?" If you are importing to a particular area in Pakistan, then you need to find out what the needs and desires of that area are. If you import something that no one wants to buy, then it doesn't matter how cheap it is . . . you will end up losing money.
Can you find something that no one else is selling? This is called a "niche market" or a "specialty" market.
Can you provide something cheaper than other sellers? This is called competition.
In university, a professor asked a student to "sell him a pen." The student went on and on about how good the pen was and the professor kept objecting to various things the student said. Finally, the student asked, "Well, what kind of pen are you looking for?" The professor said that should have been the FIRST thing out of his mouth, rather than talking about a pen.
Find out what people are looking for and then find a source for it.
Good luck!