According to reports five others were injured in the accident as the Skardu-bound coaster was making its way from Rawalpindi.
G-B Governor Raja Jalal Hussain Maqpoon expressed grief on the loss of lives.
He asked authorities to facilitate the families of the victims.
According to Assistant Commissioner Roundo Ghulam Murtaza eight bodies have been recovered from the river while search operation by the Pakistan Army is still under way.
Army aviation helicopters have moved bodies of three passengers to CMI Skardu.
Vehicular accidents are a regular occurrence across the country.
On Thursday, a man was killed and seven others were injured as sudden flooding struck the Sakhi Sarwar Road after rain in Koh-e-Suleman area.
Three buses of pilgrims visiting a shrine were swept away from the bank of a stream.
The flooding took place after heavy rain in Fort Munro, Koh-e-Suleman and adjoining areas.
As a result of the incident, several persons went missing.
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