The PT-92 is (or was at one point) a licensed Beretta 92-series clone. I think I even read that (at least at one point) Taurus used Beretta tooling left over from a Brazilian Beretta factory. Of course this doesn't mean that the quality are the same but it is made to similar spec and has Beretta pedigree.
The one thing some people seem to prefer is the frame mounted safety on PT-92's.
I think they lack the name marquee of Beretta but, really, I have a hard time believing they are that much less reliable than a Beretta. Some people say the Berettas made in the U.S.A. are not as nice as the ones made in Italy but a lot of it is opinions.
What's the price difference these days between the two?