Hi Anish-
Sure, the greater suction head will "add" to the total discharge pressure you need, thus helping a lower powered pump achieve a higher discharge pressure. However, with this increased suction head in mind, you still need to plot a "system head curve" on top of the pump curve to see where the pump will operate (where the curves intersect). As another fellow indicated, if the flow is not sufficient at the intersection, a
VSD may be used to alter the pump curve to increase output, but it would be best to consult with the pump manufacturer to determine the pump curve at various speeds before deciding whether to buy a new one.
Les Lattig