The tax charge is high in relation to the profit before tax mainly because depreciation for tax purposes is significantly lower than the depreciation charged in the accounts. This arises from the time of the demerger from ICI Pakistan Limited.
The crude oil price is expected to remain high due to the uncertain political outlook in the Middle East, which is likely to exert upward pressure on Px prices. In the domestic market, PSF sales are expected to remain under pressure from imports and cotton subsititution economics.
Pure Terephthalic Acid is an essential material used in the polyester industry.
PPTA exports PTA regularly to customers in both Asia and Europe. PPTA is an independent company within the ICI world-wide group.
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