Education Minister Anthony Garcia says once the investigations are over, the girls will be suspended.
The video has been widely circulated on social media.
It shows the school girls wearing the uniform of the Diego Martin North Secondary and holding what appears to be marijuana cigarettes.
They are seen smoking and commenting on what they were doing.
Director of School Supervision, Naima Hosein says her department is awaiting a full report from the principal of the school.
She says the situation is a worry one and she agrees with the Minister that the girls have shamed their parents and guardians.