This paper proposes a closed-loop control strategy to operate an off-the-shelf single-phase induction motor (I.M.) as an unsymmetrical two-phase motor. The proposed control strategy employs the slip frequency control technique to independently control the stator currents of both main and auxiliary windings and make them follow a predefined sinusoidal wave. Simulation results show that the proposed scheme is successful in operating the single-phase induction motor as an unsymmetrical two-phase motor with fast dynamic and transient responses. Notably, the proposed control scheme achieves reduction in the inherent torque oscillations of the two-phase unsymmetrical I.M, rendering its behavior similar to its symmetrical counterpart. In addition, the proposed control system achieves cost-effectiveness in both initial and running costs. Thus, the proposed work presents a novel cost-effective control and application of the single-phase induction motor.