Does the Engineering degree have any value if you want to do MBA???

yes ,during campus in mba college they gv first preference to experience holders n then to engineers n then to other ...

Whatever educational course onehas done, there is always a value for it. But it depends on what line you intend to go. Suppose you have done automobile engineering. Then if you do MBA, you should look for a job in senior position in Automobile industry. You become a technocrat - both technical and managerial responsibilities can be executed.

i have also done engg. from pakistan now iam also trying to get in admission in mba program i think its better for getting executive post in engineering firm. The degree is fine enough but you should have a high score in GMAT an international test conducted for business admmnistration schools