IRCC Canada announced a 2-year cap on study permits for international students.

Good news is that those who come to Canada to pursue Master's degree and above are not subject to this cap; moreover, they will soon be eligible for a 3-year work permit after graduation. Source: IRCC Website

https://www.canada.ca/en/immigration-refugees-citizenship/news/2024/01/canada-to-stabilize-growth-and-decrease-number-of-new-international-student-permits-issued-to-approximately-360000-for-2024.html