After Saturday's first victory of the Vanarama National South season against Hayes & Yeading, Steve Tully's men were moments away from a second league defeat before Pugh's intervention in the eighth minute of injury time.
It was twist on an incredible night in South London, which saw referee Elliott Kaye hand out seven yellow cards and two red cards.
Sutton were reduced to ten men when Shaun Cooper was sent off in the second half, and City's Isaac Vassell was shown a red card in injury time.
Tully made three changes to the side which beat Hayes, with Pugh, Ryan Brett and Craig Duff coming in for Ed Palmer, Matt Wright and Shane Krac.
And they got off to a disastrous start when Dan Fitchett gave the Us the lead after just 40 seconds.
But City were level on nine minutes. Sutton Ross Worner was penalised for bringing Vassell down in the box and Shane White stepped up to score his second penalty in as many games.
Just before the hour mark, however, the hosts were back in front when Fitchett grabbed his second goal of .
Sutton were then reduced to ten men 15 minutes from time when Collins was dismissed following a second yellow card. Kaye booking the player for taking too long to take a free kick.
But with the game into the eighth minute of injury time, Pugh pounced on an error by Worner to rescue a dramatic point.
Sutton: R Worner, D Spence, D Wishart, D Beckwith, S Cooper (Dundas), J Collins, M Spillane, G Southam, S Fleetwood, D Fitchett (Hippolyte-Patrick), R Stearn (McAllister). Subs (not used): Shaw, Wright.
Goals: Fitchett (1 & 59)
City: M Rice, S White, C Riley-Lowe, J Ash (C Cooke 73), R Farkins, A Pugh, A Dawson, R Brett, C Duff (M Wright 54), I Vassell, D Green (S Krac 73). Subs (not used): T McHale, E Palmer.
Goals: White (9 pen), Pugh (90+8).
Referee: Elliott Kaye.
Read more: http://www.westbriton.co.uk/Football-Pugh-rescues-point-Truro-dramatic-night/story-27627907-detail/story.html#ixzz3jGL3BAWP