Is there a specific dua for when time is closing fast?

Yes, there is a specific dua for when time is closing fast. It is recommended to recite the following dua: "Rabbanaa atinaa fid-dunyaa hasanatan wa fil-aakhirati hasanatan waqinaa 'adhaaban-naar." This dua translates to "Our Lord, give us in this world that which is good and in the Hereafter that which is good and protect us from the punishment of the Fire."