Cook rice in the pressure cooker for one whistle on high heat.
Reduce heat and further cook for five minutes.
Fry the coconut pieces in two teaspoons of ghee and set aside.
Take jaggery in a pan and add water just enough to submerge it.
Cook on medium heat till all the jaggery melts. Strain the syrup through a sieve to remove dirt.
Pour back the jaggery syrup into another pan.
Add four teaspoons of ghee and let it cook for few minutes.
Add one cup ghee, little by little, every three minutes till the syrup forms a two string consistency.
Add the cooked rice and keep stirring and also keep adding the remaining ghee, little by little, till it gets over.
The payasam should have a thick pouring consistency.
Add the fried coconut pieces and stir. Serve warm.