Career
Panić held the rank of General, he was in charge of the Yugoslav people"s army after the resignation of general Blagoje Adžić in 1992. Panić graduated from Yugoslavian military school as a tank commander and gradually rose through the ranks of the Yugoslav People"s Army through the 1970s and 1980s. He was given authority over the 1st Army District (Belgrade) and was the senior officer in charge of the units which fought in the battle of Vukovar.
With the dissolution of Yugoslavia, on 27 April 1992 Panić was offered a position of chief of staff in the new Yugoslav Army.
Panić began to re-align the Yugoslav army in 1993 with new battle-plans and strategies, but was not prepared for the political power struggles that were occurring in Belgrade at the time and retired. Panić died in Belgrade on 19 November 2003, shortly after his 70th birthday.