World Bulletin / News Desk
The accident took place in Lodhran district, located some 700 kilometers (435 miles) off the capital Islamabad, when the children were on their way to school.
A rickshaw driver was among the dead; six others were also injured.
Dunya news network quoting a statement from the railways said the rickshaws carrying the students had apparently misjudged the speed of a train at a crossing.
Minister Khawaja Saad Rafique said two gate keepers at the crossing who were supposed to be on duty at the time of the accident had been arrested along with the train drivers.
Pakistan has a history of train accidents mainly because of poor safety standards and mismanagement.