PREHEAT oven to 350° F.
COMBINE flour, baking powder, baking soda, salt, cinnamon and allspice in medium bowl. Beat shortening and granulated sugar in large mixer bowl for 30 seconds. Add pumpkin, eggs and 2 teaspoons vanilla extract; beat until blended. Gradually add flour mixture into pumpkin mixture at low speed until combined. Stir in raisins and nuts. Drop by rounded teaspoons onto ungreased baking sheets.
BAKE for 12 to 15 minutes or until edges are golden brown. Cool on baking sheets for 2 minutes; remove to wire rack to cool completely. Spread each cookie with frosting.
BEAT butter, rum extract and remaining vanilla extract in medium mixer bowl until creamy. Gradually beat in powdered sugar and evaporated milk until smooth (frosting will be thin).