Have you inspected the ECU with the cover off??
There are injector drivers that are long black things, IIRC, that may be bloated and or broken open.
Also, check to see if the board smells fishy/burnt and if any acid has leaked from the fat main capacitors, that if original, MUST be changed out.
There are avenues for repair, but start there.
Lots of rebuilt ECU's are available, you just need to know where to look on the internet. Britain, Germany, Sweden, USA, etc, etc.
I suggest a google search and see what you can find.
I just found one on Ebay:
http://www.ebay.com/itm/93-ELANTRA-ENGI ... 86&vxp=mtr
Be careful of the 94.5 timeline on the ECU's because it changed over in 94.5-95.
I have ASA Europe up and running, so I plugged in what I figured was your car:
C53a Colt/Lancer (EUR) 1600 2WD (2 door)
1988.04.1-1989.04.3 MNGML6, MNGMR6 MD128616
1988.04.1-1989.04.3 MNGMQL6 MD132954
1989.05.1-1990.05.3 MNGMQL6 MD146877
1989.05.1-1990.05.3 MNGML6, MNGMR6 MD146878
What numbers are on your ECU ?? I would highly suggest opening up the ECU, checking it, and then searching out a direct replacement. DO NOT pay $250 for a working unit, unless you cannot source a properly working unit from somewhere like our site, COLT UK
www.coltuk.org/phpbb3/viewforum.php?f=110 , or the like. You have many options.
If you need more cross reference there may be a few listings to ECU's from North America that could be used also. I wonder about some of the pinouts being different, but its doable with some pin switching. Regional differences in emissions meant a few wires get switched around.
Some other possible options off the top of my head:
You can likely plug in a 1.6L 92-94.5 Hyundai Elantra ECU to keep the 4g61 motor operating properly and it will be plug and play. I cannot confirm on the pinout, but the connectors are identical and the ECU is essentially all Mitsu design with differing labelling from Kefico. They are almost 100% the same. I had one in my posession and compared them side by side.
You cannot use a 93-96 Lancer ECU because they went to MAP sensor technology and the ECU plugs are completely different and not worth the hassle.