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Seems clear to me it's just the odd hours that can confuse. It's a shared use bay - permit holders or pay for 2 hours, bar Sunday between 6 am and 12 midnight.
To me, the 'P' means 'you can park here freely'
It then goes on to list times and conditions when you cannot do so.
I think it would be clearer if the word 'Except' was inserted before 'Mon-Fri...'
Otherwise I would be understanding the words 'Only For' before 'Permit holders ... or ....', leaving Sundays 6am-midnight in a bit of a limbo.