Petar Panchevski was born on January 25, 1902, in the village of Butan, Vrachan region (today part of Kozloduy Municipality).

The beginning of the Second World War found him as the commander of the engineering troops of the Siberian Military District.

The brigade was assigned to the 4th Ukrainian Front in October 1943 and participated in the Battle of Melitopol.

Later, he participated in the battles in Romania, Yugoslavia, Hungary and Austria as the commander of the XII assault engineer-sapper brigade.

On August 15 of the same year, he was appointed commander of the 1st Infantry Sofia Guards Division.

It is the basis of the arrest of generals Slavcho Transki, Dencho Znepolski and others, on the charge of being associates of Traicho Kostov.

[3] There were reports that Panchevski was the instigator of the attempted coup d'état by Ivan Todorov-Gorunya in 1965, when leader Todor Zhivkov was on visit to Vratsa.