An investigation is carried out to study the effects of suction/injection on the slip flow of oscillatory visco-elastic hydromagnetic flow through a vertical porous channel. It is considered that the fluid has small electrical conductivity and the electro-magnetic force produced is also very small. The flow is subjected to suction at the cold wall and injection at the heated wall. Under the Boussinesq’s approximation, the governing equations are solved using multiparameter perturbation technique. The effects of pertinent flow parameters on fluid velocity, temperature, shearing stress, the rate of heat transfer is obtained and illustrated graphically. This study plays an important role in physiological, industrial and hydrological problems under suitable conditions.