The generals were awarded at a ceremony held at the Awan-e-Sadr (President House).
According to a statement by the President House, the President conferred Nishan-i-Imtiaz (Military) on General Hayat and General Bajwa "in recognition of their services."
Last month, President Hussain appointed Bajwa as Chief of Army Staff and Hayat as the Chairman Joint Chiefs of Staff Committee on the recommendation of Prime Minister Nawaz Sharif.
The Nishan-i-Imtiaz (Order of Excellence) is one of the state organised civil decorations of Pakistan.
The award can also be given to military personnel.
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