To achieve successful reusability of components a disciplined development approach is required which is the component based software engineering(CBSE).The software component selection is a vital part of this approach. It consists of defining an evaluation criteria based on user requirements and depending on this the repository is searched and shortlisted components are presented to the user. Due to availability of large number of components offering same type of functionality it is difficult to select a particular component based on available description. This paper presents a multiobjective optimization model for component selection purpose and solves it using preemptive goal programming approach by using an optimization tool LINDO. Subsequently, an illustrative case study is given where the components are taken from an online repository and goal programming is applied for getting the most optimal component. However, this model is applicable when the repository is small but for larger set of components it needs to be validated.