Wallace was eventually run out for 79 as West Indies reached 289 for nine from their 50 overs. Then man-of-the-match Arthurton took a wicket with the first and last balls of his 10-over spell and two wickets in his ninth over as local favourites Pakistan were restricted to 259 for nine.
West Indies, who play India in a semifinal tommorow, got off to a spectacular start as opener Philo Wallace and No.3 batsman Shivnarine Chanderpaul scored 109 runs for the second wicket at over seven runs an over.
Wallace was the pick of the innings, scoring 79 off 58 balls with 13 fours. He was so severe on the bowling that Pakistan captain Aamir Sohail used six bowlers within the first 20 overs to contain him. Chanderpaul made 49.
When Wallace was run out in the 20th over, with the score at 143, West Indies looked set to top 325 in their 50 overs, with Chanderpaul already set, and Brian Lara to follow.
But a combination of poor batting and tight bowling by veterans Akram and Malik restricted West Indies to 289. They lost eight wickets for 146 runs.
Arthurton and Phil Simmons put on a useful 46 runs for the seventh wicket, but both fell just when it looked they were ready to go after Pakistans bowlers.
Akram, whose first six overs went for 34 runs, brought the 31 000-crowd alive with three wickets in his last four overs. He removed Arthurton and Jacobs in successive balls in his seventh over, and then bowled Simmons in his ninth.
Malik caught and bowled Hooper and then had Nixon McLean caught by Ijaz Ahmed at mid-off after the batsman tried to hit him out of the stadium.
Spinner Arshad Khan finished with two for 43, which included the prized scalps of Lara and Chanderpaul.
Arthurton, who also scored 33 runs, started his wicket-taking by bowling Azhar Mahmood, who had reached 20 runs off 20 balls. In his ninth over he also bowled Ijaz Ahmed Pakistans top scorer with 51 with his second ball, and then trapped Malik leg before with his fourth.
Arthurton completed his haul on the last ball of his final over when he had Wasim Akram edging a ball outside offstump to wicketkeeper Ridley Jacobs.
Its always nice when you can have an all-round performance like that, Arthurton said after the game.
I have a very big role to play in the team. Batting at No.6 is not easy, and then I have to bowl and be outstanding in the field, I have to contribute and do what is expected of me, he told CANA Radio. So all in all, things worked out well for us today,
Pakistan looked in touch only until the 15th over, when they had scored 83 for the loss of two wickets and Salim Elahi and Ahmed were going nicely.
Elahis run out, when he had 46 and the score was 90, was the turning point of the match.
After that Pakistan lost wickets at regular intervals as their batsmen tried to accelerate the run rate.
Both Akram and Moin Khan hit sixes towards the end of the innings, but got out cheaply when trying to score quickly.
Pakistans skipper Sohail admitted that his team had failed in all departments of the game.
South Africa and world champions Sri Lanka meet in the first semifinal today.