Facebook to lift ban on news in Australia

Facebook has announced that it is removing the ban on news content for its Australian users.

Veteran social media company Facebook stopped news related content in Australia from last Thursday in protest against a proposed law. This proposed law provides that Facebook and Google must pay news publishers for content.

Australian Finance Minister Josh Freudenberg said that "in the coming days", Facebook will revive all the news pages.

On Tuesday, he said in a statement that the law will be amended.

The government has said that this law is being brought to establish the balance of power between tech companies and media institutions in the market.

This law had worldwide attention, but Facebook and Google vehemently opposed it.But Facebook said on Tuesday that the government has assured it in the recent discussion.

Read here why facebook banned news in Australia 

On Facebook, Vice President of News Participation Campbell Brown said, "We have reached an agreement, according to which we will be able to select publishers, including small and local publishers, for support."

Facebook has its own "Shokas" product, through which it pays media institutions to show the story on its platform.

However, under Australia's new law, money will have to be paid to share and post news links on Facebook.

Since last Thursday, no one in Australia is able to see or share news stories on their account.