Why do you need an Army operation in S Punjab? The area isnt out of govt control as was the case in Swat and we certainly dont have the same kind of threat emanating from there. If action needs to be taken, then all it will require is a coordinated police and intelligence operation. Whats important is to disallow them their safe haven, which happens to be S Waziristan. The real threat is in S Waziristan, as it not only a safe haven, but also a conduit for weapons and logistics. Without S Waziristan, the Punjabi terorrsits will have no place to run. I mean lets not forget the fact that the captured terrorist, this Umar person, apparently escaped to Waziristan after the attack in Lahore.
Swat was totally in government control. It is very much part of Pakistan proper. Unlike FATA areas which from day one had very poor control from the central government.