parser class not parsing

[eluser]jepotski[/eluser]
Iam using the parser library , the problem is its not parsing my data, instead it displays it as is:

Iam using this tag

Code:

{Text}

and parse it using:

Code:

$this->parser->parse('MyView',array('Text' => 'Sample text'));

FYI, I have autoloaded the parser library in my config.