Bhutto assassinated at Liaquat Bagh, Rawalpindi
Benazir Bhutto (PPP) was shot once in the neck at close range, and suffered head injuries from the follow-up blast which killed or wounded many people proximal to the shooter and his target, and was pronounced dead in a hospital in Rawalpindi.

A few minutes before the assassination. Here's Dawn's coverage:
Benazir Bhutto Assassinated
Benazir Bhutto dies ISLAMABAD, Dec 27: Former prime minister Benazir Bhutto succumbed to her injuries in the hospital, tv channels reported. She had received grievous bullet injuries in the neck region and head injuries from the bomb blast at the election meeting at Liaquat Bagh which also claimed at least 20 more lives. (Posted @ 18:28 PST)
About 20 killed in blast after Benazir rally RAWALPINDI, Pakistan, Dec 27 (AP) An explosion went off shortly after opposition leader Benazir Bhutto addressed a political rally in Rawalpindi's Liaquat Bagh, killing at least 20 people, witnesses said. An Associated Press reporter at the scene could see body parts and flesh scattered at the back gate of Liaquat Bagh. He counted about 20 bodies, including police, and could see many other wounded people. Police official Abdul Karim said Benazir had already left the area in her vehicle when the blast went off. (First Posted @ 16:05 PST Updated @ 17:34 PST)
Also in Rawalpindi gunmen opened fire on supporters of former prime minister Nawaz Sharif (PML-N) killing four.