Should the killer of Governor Punjab Salman Taseer be hanged?

Malik Mumtaz Hussain Qadri is an Elite Police Commando from Punjab, Pakistan, who joined the police in 2002. On 4 January 2011, following a controversial statement regarding Pakistan's Blasphemy Law, he opened fire on and killed Salman Taseer, the Governor of Punjab, for whom he was working as a bodyguard appointed by the Elite Police in Punjab.
According to our Holy Prophet (PBUH), "the slaying of one person is the murder of entire humanity", so should Mumtaz Qadri be hanged for this or not?

ISLAMABAD, January 05, 2011: Pakistani policemen escorting Malik Mumtaz Qadri, who killed Governor Punjab Salman Taseer, after his hearing at court on Wednesday in Islamabad, Pakistan.
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The survey will be on up till Sunday, 16th January, 2011.