Whether or not liposuction will help depends on the cause of your paunch:
1) It's possible, but not probable, that the "paunch" is an isolated fat pocket. If that's the case, then liposuction will help. The results will be good if your skin doesn't have many stretch marks, not so good if it does.
2) If the paunch is the result of laxity (looseness) of the abdominal wall muscles, which can happen after laparotomy (intra-abdominal surgery), liposuction won't help at all. You need a procedure which tightens the abdominal wall muscles.
3) The paunch could be a hernia. Liposuction won't help a hernia. Only a hernia repair helps a hernia.
4) The paunch could be skin and fat re-draping around a tethered abdominal scar. An extensive scar revision would be needed to help with that.
Ultimately, liposuction probably isn't the right option for you. Your best bet is consultation with a board-certified plastic surgeon for a thorough evaluation.
Hope this helps. All the best.