Preheat the oven to 350°F and lightly spray two 9x5x3-inch loaf pans with nonstick cooking spray. In a large bowl with a hand mixer or in the bowl of a stand mixer, cream together the shortening and sugar. Add the eggs, one at a time, mixing well after each addition. Add the pumpkin and water and mix well.
In another bowl, use a whisk to mix together the flour, baking powered, baking soda, salt, cinnamon, and allspice. Add the dry mixture to the wet ingredients and mix well. Divide the batter evenly between the two pans. Bake for 1 hour and 10 minutes to 1 hour and 15 minutes, or until a toothpick inserted in the center comes out clean. Be sure to test both loaves for doneness, not just one. Allow to cool for a few minutes before removing from the pan. Top with the Praline Sauce.
To make the Praline Sauce, combine the sweetened condensed milk, brown sugar, and salt in a small saucepan. Cook over medium heat, stirring constantly, until the sauce comes to a rolling boil. Continue to cook for 1 minute, then remove from the heat and stir in the pecans. Allow to cool for 10 minute before pouring it over the warm (not hot) bread.