Ah, right. well, as far as I'm aware you could do one of two things.
1) write a plugin "shell" that houses the MEL script and simply passes each MEL line to Maya. This would do what you want but wouldn't execute any quicker than the original MEL, it would just be a plugin. (can't see the benefit in this method).
Or,
2) you could re-write the MEL script in C and compile that as a plugin. That would be the best solution except that you'd have to know about the API and C and how to convert each MEL command as is relevent.
hope that makes sense, I'm no expert in these matters... In fact I'm probably way out..! 
:nathaN