The two planes were reported to be only metres apart
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An investigation is underway in Pakistan after two airliners carrying hundreds of people - including the information minister - nearly collided.
"It was a matter of seconds between life and death," said the minister, Sheikh Rashid Ahmed.
One Airbus had to take urgent evasive action as passengers wept and prayed in fear of their lives.
The incident over the east of the country happened as the two planes travelled in opposite directions.
Nosedive
"Those few moments were very heavy for us, like we were going to die," Mr Ahmed said.
He said that the 179 passengers on the Pakistan International Airlines (PIA) Airbus travelling from Islamabad to Karachi were having an in-flight meal when the incident happened.
Suddenly trays and platters were thrown in all directions as the plane "dipped like a diver" to avoid a collision with an Air Blue Airbus carrying 144 passengers was heading the opposite way towards Lahore.
"I heard an old woman tell her grandson that she was praying for his life. Passengers were scared," the minister said.
"Two, four passengers were slammed against the roof because they had not fastened their seat belts."
'Disaster averted'
He added that a doctor on board gave medical help to passengers and a stewardess who were injured when the plane took evasive action.
"When I enquired from the pilot he informed me that a major disaster was averted," Mr Ahmed said.
PIA officials say the incident happened at 37,000 feet (11,200 metres) when it was discovered the planes were in the same air corridor.
"We were lucky that two senior and seasoned pilots were flying the (PIA) aircraft," the airline's Director of Flight Operations Asif Raza told the Associated Press news agency.
"They had just five seconds to get the aircraft away from that air corridor," he said.
Civil Aviation Authority (CAA) officials say an emergency was declared at Karachi airport, with ambulances and the emergency services put on alert.
"There will be an investigation how the two planes had been flying on the same air corridor and why the pilots of both did not follow the warning signals," CAA official Yusuf Abbas told the AFP news agency.
A spokesman for Air Blue said that said that the incident was "routine" and that its aircraft was not required to carry out any unusual manoeuvres.
"There was no danger to any of the passengers on the Air Blue aircraft at any of the time," the spokesman said.