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Wireless powered communication network (WPCN) is a promising technique to resolve the power constraint issue faced by wireless nodes at the same time it also provides green and a safer solution. This paper studies, mutual sharing between WPCN and simultaneous wireless information and power transfer model where optimal resource allocation occurs between licensed/bandwidth group and an unlicensed/power group to enhance the system performance. The main aim of this paper is to maximize system weighted sum rate and minimize power consumption during transmission by optimal time allocation and energy beamforming vector allocation. These multiobjective combinatorial problems are solved using joint metaheuristic particle swarm optimization-cuckoo search algorithm to provide an optimal solution. The results are compared using a conventional mathematical optimization algorithm to set as a baseline for performance parameters. The obtained results demonstrate that the efficient joint metaheuristic approach provides a significant gain in the system performance and also offers a computationally less complex approach for solving a complicated non-convex multiobjective problem of wireless powered network. [ABSTRACT FROM AUTHOR]