The bus, carrying 30 troops, was on its way to Gilgit from Rawalpindi. According to initial reports, the incident occurred due to over-speeding.
The emergency workers immediately rushed to accident site and rushed the dead and injured to the nearby hospitals.
The ISPR in a statement said the all the soldiers were originally from Gilgit and were on leave.
Careless driving, over-loading, over-speeding and below-par roads are the main culprits of the accidents in the country, which annually claim thousands of lives.