Hello Anoop
Can you let us know from where and to where you are pinging? Keep in mind that when you verify, you must ping with a source of the loopback. If you simply ping 5.5.5.5 from the CE1 router, you won’t get a response, because the source of that ping is the Fa0/0 interface, which has an IP address of 192.168.12.1. That address is unknown to CE2, so the ping will reach the destination, but there is no route to the original source address.
Make sure you are adding the source loopback 0 keywords after the ping. If it is still not working, give us some more info about your setup so that we can help further with troubleshooting.
I hope this has been helpful!
Laz