We have successfully attempted to solve the equations of full-MHD model within the framework of ψ ω − formulation with an objective to evaluate the performance of a new higher order scheme to predict better values of control parameters of the flow. In particular for MHD flows, magnetic field and electrical conductivity are the control parameters. In this work, the results from our efficient high order accurate scheme are compared with the results of second order method and significant discrepancies are noted in separation length, drag coefficient and mean Nusselt number. The governing Navier-Stokes equation is fully nonlinear due to its coupling with Maxwell's equations. The momentum equation has several highly nonlinear body-force terms due to full-MHD model in cylindrical polar system. Our high accuracy results predict that a relatively lower magnetic field is sufficient to achieve full suppression of boundary layer and this is a favorable result for practical applications. The present computational scheme predicts that a drag-coefficient minimum can be achieved when , it is found that the heat transfer rate is independent of electrical conductivity of the fluid. From the numerical values of physical quantities, we establish that the order of accuracy of the computed numerical results is fourth order accurate by using the method of divided differences.