Islamabad, March 23 : The Pakistan Army has decided to conduct the traditional military parade on Pakistan Day on a limited scale to save expenses as part of the governments austerity measures. Pakistan Day is celebrated on March 23 every year to commemorate the passage of the Lahore resolution in 1940, which formed the basis of a separate homeland for the Muslims of the subcontinent, The Express Tribune reported. The main event of the day is the joint military parade of the armed forces of Pakistan. However, this year, the scale of the parade had been cut back. On Thursday the parade would be held in the Presidency, instead of its regular venue of Shakar Parian. A limited number of guests had been invited to the parade, according to sources. They added that Pakistan Army had limited the scale of the parade to save money, The Express Tribune reported. "The Army stands with the nation in these difficult times," a source added. The day will begin with 31-gun salute in the federal capital and 21-gun salute in provincial capital. On the 83rd Pakistan Day, Prime Minister Shehbaz Sharif stated that "political chaos" was the main reason for the country's economic instability, Geo News reported. "The challenges are topped by a combination of economic instability and the inability to settle the rules of the game. An environment of political chaos explains why we have failed to develop our economy on a sustainable basis," he said. /IANS