We study the effect of finite chemical potential for the QGP constituents in the Ramanathan et al. statistical model (Phys.Rev.C70, 027903,2004). While the earlier computations using this model with vanishing chemical potentials indicated a weakly first order phase transition for the system in the vicinity of 170 MeV (Pramana, 68, 757, 2007), the introduction of finite values for the chemical potentials of the constituents makes the transition a smooth roll over of the phases, while allowing fireball formation with radius of a few fermi to take place. This seems to be in conformity with the latest consensus on the nature of the QGP-Hadron phase transition. Keywords: Quark Gluon Plasma, Quark Hadron Phase Transition