Ministry of Defence (Pakistan) of the army, navy and air force in Pakistan until 1956. In December 1959, the federal capital shifted temporarily to Rawalpindi, while plans for Islamabad were drawn up by then-General Ayub Khan's military government. The proximity of the Army Headquarters in Rawalpindi played a major role in the decision to relocate the capital. In March 1972, President Zulfiqar Ali Bhutto in response to criticism over the difficulties in inter-service coordination in previous wars decreed that all service HQs were to move to Islamabad. The Navy was the first to comply, with Naval Headquarters moving from Karachi to Sector E9 Islamabad
Economy of Islamabad Economy of Islamabad Islamabad is the capital of Pakistan and a net contributor to the Pakistani economy. Whilst having only 0.8% of the country's population, it contributes 1% to the country's GDP. The Islamabad Stock Exchange, founded in 1989, is Pakistan's third largest stock exchange after Karachi Stock Exchange and Lahore Stock Exchange. The exchange has 118 members with 104 corporate bodies and 18 individual members. The average daily turnover of the stock exchange is over 1 million shares. As of 2012, Islamabad LTU (Large Tax Unit) was responsible for Rs 371 billion in tax revenue, which amounts to 20%