[Adil]

I think this might match your needs:

pawn Code:

public OnPlayerPickUpPickup(playerid, pickupid)
{
    if(pickupid == pickme)
    {
        if(JustPicked[playerid] == 0)
        {            
            //Do stuff here
            JustPicked[playerid] = 1;
            SetTimerEx("Pickable", 5000, 1, "d", playerid);
        }
    }
    return 1;
}

public Pickable(playerid)
{
    if(!IsPlayerInRangeOfPoint(playerid, 3, pickupx, pickupy, pickupz))
    {
        JustPicked[playerid] = 0;
        KillTimer(Pickable);
    }
    return 1;
}

Didn't test it.