Update: For a second opinion, had another mechanic take a look. Sparks were strong so electrical problems were set aside. Fuel pump was working. Next, he checked the fuel rail and found out no fuel was evident when cranking. (The first mechanic did not do this step.) So he dismantled the fuel pump module. He couldn't find any fuel line blockage. After about an hour of testing, the culprit was finally discovered - a loose electrical socket within the fuel pump module. (somewhere in the blue circle in the attached image.) He just tightened it manually. Apparently, there was not enough contact so that although the pump worked, it wasn't giving enough pressure to pump fuel to the engine.
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Now the car starts fine.
Moral: Take your mechanic's word (diagnosis) with a grain of salt. If you're not convinced with his explanation, get an second or third opinion. This forum sure helps a lot.
Thank you guys for your insights|