Shell Programming and Scripting

I m new to shell scripting & i need a help....

i have file like....

Name := sachin
address:=something
phone:=111

...

Note: There might be or not space between Name & := and between := & sachin. I need to extract the data from each line of file as
var1=Name
value1=sachin

same for the others also...

Code:

awk -F':|= ' '{print $1, $2}' inputfile |\
while read var value
do
   echo "var=$var  value=$value"
done

Thanks for the help.......
But there is problem again. I will explain u..

My file is - inputfile.txt
Name := sachin
phone := 111
address:=something

By using u r code i m getting o/p as....
var=Name value=
var=phone value=111
var=address value=
I think u r $value veriable is not doing the desired thing......
..........Please give me the solution ......i m waiting for the reply.....

u need to do small change in the first line as

Old : awk -F':|= ' '{print $1, $2}' inputfile.txt |\
New : awk -F\:= '{print $1, $2}' inputfile.txt |\

try this....this is just a slight change in the above code(courtesy:jim)

awk -F ':=' '{print $1,$2}' field | while read var val
do
echo "$var" "$val"
done

thanks for the help ... its working..

Thanks for the help , but again the o/p is-


Name val=sachin
var=phone val=111
var=address val=something
waiting for the reply......