Select sauté on the instant pot. Add in the ghee and slivered almonds.
Add in the grated lauki and let it sauté for about 4 to 5 minutes.
Add in milk. Stir well. Secure the lid on the pot and close the pressure-release valve. Furthermore, select manual and cook at high pressure for 2 minutes.
Once the cooking is complete, use quick pressure release to depressurize. Open the lid.
Select sauté and adjust to normal. Next add Khoa, sugar, ground cardamom, rose extract, and let it sauté for 8 to 10 minutes until the liquid evaporates.
Keep stirring in order to prevent the halwa from sticking to the bottom of the pot. Finally, transfer in a serving bowl and garnish with golden raisins and additional nuts if you like.