Error 27767

I have a valid PEM file being referenced through the below in my VuGEN script

web_set_certificate_ex("CertFilePath=newfile.pem",

"CertFormat=PEM",

"KeyFilePath=newfile.pem",

KeyFormat=PEM",

"Password=password",

LAST);

Upon trying to replay the script, i am faced with error "Error -27767: Cannot set Certificate File "newfile.pem". File format is probably invalid (should be ASN1 or PEM). [MsgID: MERR-27767]

Things i have tried so far to resolve this:

1. Import the p12 format of this cert into the browser of the machine where VuGen is installed

2. Omit KeyFilePath attribute

3. Import newfile.pem into Extra Files of the script

4. verified the validity of the pem file using "openssl x509 -in newfile.pem -text" which results in display of the valid pem file. 

Please can you help with any further suggestions. 

Thanks,