In recent years there are several advancements in deregulated power market. It has become a desirable practice to reach advanced efficient power operation along with facilitated competitions among the power system market players. Anacceptable and sustainable power delivery scheme is a key issue in healthy completion of power industry. Thus, transmission network should satisfy all the required delivery schemes set by the power industry, but when there is sudden accession in loads connected to power network, the transmission system is revealed to transitory failures and instability issues. Conventional methods do not support enough to handle the deregulated power system failures. Hence a contemporary method which can deal such failures is proposed in this research work. In the proposed research work Flexible AC Transmission System (FACTS) controllers are gripped in the transmission network to enhance the voltage profile there by enhancing the stability of the system and this is achieved by optimizing the control parameters of the FACTS controllers to their opted values. In this proposed work the multi objective optimization problem for control parameters is solved by Improved Catfirefly Algorithm (ICFA) technique. The proposed work is validated through simulations on modified IEEE 14 bus system using MATLAB 14 simulation tool.