The Canadian government unveiled on Friday a draft plan to implement a newly enacted law to require internet giants to pay compensation to the country's media.

Canada's parliament passed the Online News Act in June, which is designed to protect domestic media outlets.

Bloomberg reported that Meta, the parent company of Facebook and Instagram, and Google will be obliged to pay at least 4 percent of their annual revenues in Canada when they post links to Canadian news on their platforms.

Estimates by the Canadian government show that Facebook is expected to pay 62 million Canadian dollars, or about 46 million US dollars, per year and Google to pay 172 million Canadian dollars, or about 126 million US dollars, per year under the law.

Meta has been reacting sharply to the legislation. It has stopped news distribution in Canada on its Facebook and Instagram since August.

Canadian Prime Minister Justin Trudeau criticized Meta for blocking news about the devastating wildfires that forced tens of thousands of people to evacuate in Canada this summer. He said Facebook is putting corporate profits ahead of people's safety.

But after Friday's announcement by Ottawa, Meta said it will not change its decision to block news in Canada.