At least 23 people were killed and over 30 injured in a road accident in Pakistan's Punjab province early Saturday, police said.

The accident occurred at about 2:00am when a bus, heading towards the industrial city of Faisalabad from Lahore, hit a roadside pole and overturned near Shekupura, a district located some 40km from Lahore city, Xinhua reported. 

Many of the injured were in critical condition and the toll could rise, said hospital sources.

Police believed the accident happened due to overspeeding.