After looking into this further, I learned that reinstalling packages adds code in *-autoloads.el file to set load-path.

So my problem was resolved by reinstalling all my private ELPA packages.

As far as I'm concerned, this is no longer a bug.
However it looks like recent change in package.el requires everyone to reinstall all their packages!



On 1 September 2013 09:47, GNU bug Tracking System <help-debbugs@gnu.org> wrote:
Thank you for filing a new bug report with debbugs.gnu.org.

This is an automatically generated reply to let you know your message
has been received.

Your message is being forwarded to the package maintainers and other
interested parties for their attention; they will reply in due course.

Your message has been sent to the package maintainer(s):
 bug-gnu-emacs@gnu.org

If you wish to submit further information on this problem, please
send it to 15235@debbugs.gnu.org.

Please do not send mail to help-debbugs@gnu.org unless you wish
to report a problem with the Bug-tracking system.

--
15235: http://debbugs.gnu.org/cgi/bugreport.cgi?bug=15235
GNU Bug Tracking System
Contact help-debbugs@gnu.org with problems