how much faster ?? like 1mb ?? or 2mb>?
there's two things that matter here:
1)- ping times:
that is the time a packet of data takes to leave the server and reach your ps3 (and vice versa). and all that depends on your distance from the server.
go to
http://www.speedtest.net/ and check you ping times at lahore as well as new york and one other place in the middle. it'll give you a good indication of how good the connection is.
2)- upload speeds:
this is different from your download speeds. this is the speed at which your connection sends out data to the server. this matters when you yourself are hosting a game. for playing games in general, an upload speed of 128kbps is more than enough. but for hosting, most games require 256 kpbs and more.
so, to answer your question, a good 512 kpbs connection should be good enough. although a good 1mbps connection doesn't hurt!
you can read some articles about the best internet connection available in pakistan at the "broadband internet" section of pg.
ptcl and maxcom are highly rated; although maxcom is only in karachi and ptcl has a couple of problems of it's own.
i recently shifted from wateen wimax to ldn. it's a much better connection, although still not as flawless as i hoped it to be. still ldn in my humble opinion runs as good as ptcl.