AFTER TKOF FROM ABQ THE RPTR WAS TOLD THERE WAS A B737 W OF HIS POS; LNDG ON RWY 17; AND TO MAINTAIN VISUAL SEPARATION. SUBSEQUENTLY THE B737 CAME WITHIN A MI AND 300-500 FT VERT OF THE RPTR BEFORE TURNING IN TOWARD THE ARPT.

Narrative

ON MY DEP OUT OF ABQ; I WAS ADVISED BY DEP CTL THAT A B737 WAS W OF MY POS DSNDING TO LAND ON RWY 17 AT ABQ. ADDITIONALLY; A CESSNA WAS ALSO FURTHER S OF THAT B737. I WAS TOLD BY APCH CTL TO LEVEL OFF AT 7500 FT MSL. AT THIS POINT MY ALT WAS 7800 FT MSL. I DSNDED AND LEVELED OFF AT 7500 FT MSL ON A HDG OF 310 DEGS. I OBTAINED A VISUAL ON THE JET AND THE CESSNA. BOTH AT MY L 7-8 O'CLOCK FOR APPROX 5 MI. THE JET WAS DSNDING THROUGH 8500 FT MSL AND OVERRUNNING ME. ONCE I OBTAINED A VISUAL ON THE B737 IT APPEARED THAT HE WAS GOING TO PASS BEHIND ME AS NO FACTOR. I WAS TOLD TO MAINTAIN VISUAL SEPARATION ON THAT TFC. IT THEN APPEARED THAT THIS JET WAS IN A FIXED POS ON MY L AFT WINDOW (IE; COLLISION COURSE) AND THE B737 WAS GAINING ON ME. MY AIRSPD WAS 150-180 KIAS. APCH CTL TOLD ME TO DISREGARD THE 7500 FT MSL ALT RESTR AND CLB NOW. AS I STARTED AN IMMEDIATE CLB TO 8500 FT MSL; THE B737 STARTED A STEEP R TURN TOWARD THE E AND PASSING BEHIND MY 6 O'CLOCK POS AT 1 MI OR LESS AND WITHIN 300 FT OF MY ALT. THE AIRSPD DIFFERENCE BTWN OUR 2 ACFT MADE IT DIFFICULT TO AVOID THE JET ACFT. I COULD HAVE MADE A QUICKER DECISION TO CLB AND TOLD DEP AFTERWARDS I MUST CLB NOW! I DID NOT THINK THE JET WAS GOING TO BE A FACTOR UNTIL THE END GAME.