Pakistan’s former military ruler Pervez Musharraf has vowed to return to politics declaring that he stood a “good chance” of a comeback as the nation had sunk in self-confidence, a claim which was rebuked by parties in Islamabad.

Musharraf said that he intended to form a new party and lead it in Pakistan’s next general elections in 2013 to steer the country in what he called a “correct” democratic path.

“Two hundred per cent, I will participate in the next election,” Musharraf, who has been living outside Pakistan since April last year, told the news agency.

The former dictator said that time had come top introduce a new political culture in Pakistan to bring in a correct democratic path, dubbing the present governing system as “artificial make-believe democratic path”.

He said he would launch the new party in the ” near future” but would not immediately return home.

Asked if he was confident of becoming the next President of Pakistan, the former military ruler said “no I cannot be assured, but I believe there is a good chance of my winning on the political scene”.

“We have to show light, we have to give the people viable alternative to regain confidence, because there is total breakdown of self-confidence of the people of Pakistan. They have lost hope in Pakistan. Its a pathetic situation,” Musharraf, who was President from 2001 to 2008, said.

He claimed that he had done wonders in his seven years of rule, saying this should be compared with the fifty years of the past.

The former military ruler said he was not scared of possible legal cases he would face on his return.

“One is not scared for one’s sake. But one should not be fool hardy,” as he acknowledged there was a risk to his life.

Musharraf’s comments sparked off ridicule from Pakistan’s mainstream parties who said there was “no room” for him in the country.

“The former president is a coward and will not return back. Pakistan is engulfed in a crisis because of the culture introduced by Musharraf,” a senior Jamaat-i-Islami told the news agency.