Wash rice. Heat milk until just boiling, add rice. Immediately turn heat down to low and simmer for 90 minutes, stirring often to prevent sticking.
When the rice is cooked and the mixture is thickened to your taste, add sugar and stir well. Continue to simmer until all rice is dissolved.
Remove from heat and add cardamom, saffron, pistachios, and raisins.
Serve hot or well chilled.