Rinse Gobindobhog rice with water and soak in 3-4 cups of water for 30 minutes.
Heat ghee. Add raisins and whole cashew nuts to the pan and fry until they turn golden brown, stirring continuously.
Add whole green cardamoms, cloves, cinnamon stick, and bay leaf, and fry for 3-4 seconds.
Drain the water from the rice and add it to the pan and mix with the ghee gently.
Add water, sugar, turmeric powder, and saffron strands to the pan and stir gently.
Reduce the heat to low. Cover the pan with a tight-fitting lid and cook for 20-25 minutes until all the liquid is absorbed by the rice and the rice is cooked.
Remove the pan from the heat and let the rice rest for 5 minutes.
Fluff the pulao gently with a fork. Garnish with slivered almonds and pistachios and saffron strands. Serve hot.