Maximum Torque Per Ampere is the commonly used technique for operating interior permanent magnet (IPM) motor while little work is reported towards maximum power-factor operation i.e., Maximum Power Per Volt-Ampere (MPVA). The MPVA operation allows maximum-utilization of the drive-system. Thecontrol technique is developed using detailed mathematical model of IPM motor in MPVA, and the solution to the quartic equations involved is derived and analyzed. The solution is utilized to develop LUT for implementation of MPVA control. The comparison of MTPA and MPVA technique is established to demonstrate itsmerits and demerits. The proposed algorithm is supported by simulation and experimental results on a 5.5 KW vector controlled IPM drive.