Can anyone please comment on the Kibor +3 ruling, when does it exactly apply and what is the formula for its calculation? According to this post by zahid.geol I tried calculating it for KIA Sportage FWD and the equation seems to be something like this;
Pay Order Price: PKR 4,884,000
Pay Order Date (Full Payment): 16th September 2021
(4,884,000 x (7.57% + 3%) ÷ 365 (Days of year)) x 60 (Days in 2 months)
= 4,884,000 x (0.1057) ÷ 365 x 60
= 84861 per month
= 2828 per day
I'm confused about what is this 7.57%?
Assuming the calculation and formula above is correct, am I entitled to 2828 per day starting from 17th November 2021?