The accident involved a car bearing registration number JK02AR-5777, which reportedly lost control before skidding off the road and falling into a deep gorge.
Officials said the vehicle rolled and glided down the slope several times before finally crashing at the bottom, leaving the car completely mangled.
Three persons were travelling in the vehicle at the time of the accident. One woman died on the spot, while the two injured occupants were rescued in critical condition and shifted to a nearby hospital for treatment.
Rescue teams and local authorities rushed to the scene soon after the accident and launched an operation to retrieve the victims from the gorge.
Officials said the identities of the deceased woman and the injured persons were being ascertained.
The accident briefly disrupted movement in the area as rescue operations continued along the highway stretch.
Police have initiated proceedings to ascertain the circumstances that led to the accident.
Further details were awaited.
