Solaris 11 : The new "pkg" command does not take http_proxy shell variable

The new "pkg" command does not take http_proxy shell variable, as mentioned in the Man page.

I am running Solaris 11 as guest in VBox. 

I have set http_proxy="http://my_proxy_ip:8080"

when I run, # pkg refresh or # pkg set-publisher .... it just times out network unreachable!!! 

Any help would be appreciated!

Please note: using curl with same proxy I can access internet from my Sol-11 VM.

Thanks,
Nitin
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