The Home, and Road Transport and Bridges secretaries, and the Chairman of the Bangladesh Road Transport Authority were asked to pay the compensation within 15 days.
The HC bench of Justice Sheikh Hassan Arif and Justice Razik-Al-Jalil passed the order after hearing a writ petition.
The HC also issued a rule asking the government to explain why directives should not be given to provide Tk 50 lakh as compensation to each family.
The rule also sought explanation as to why the failure of government to prevent road accidents should not be declared illegal.
Home, and Road Transport and Bridges secretaries, Chairman of Bangladesh Road Transport Authority, Inspector General of Police, Dhaka Metropolitan Police Commissioner and Chattogram Metropolitan Police Commissioner were made respondents to the rule which is returnable in four weeks.
Children Charity Bangladesh Foundation and Bangladesh Legal Aid and Services Trust filed the writ petition seeking compensation for the victims.
Lawyer Md Abdul Halim stood for the petitioner and Deputy Attorney General Mokhlesur Rahman represented the state.
In separate roar crashes, Faiza Tahsin, 10, was killed at city’s Uttora area on February 5, Miraz Khan, 5, at Kaliakoir of Gazipur on February 3, Liza Aktar, 9, in Barishal, Ahmed Rifat, 6, at Balaganj of Sylhet and Nusrat Chowdhury, 23, at Sitakunda of Chattogram on February 2.
Earlier on February 5, HC issued a similar order to provide Tk 1 lakh as compensation to each of the families of another four students who died in separate road crashes in Keraniganj and Chattogram districts in January.