An action in a sentence can be represented in two ways, namely active and passive voice.
The passive voice always uses the past participle form of the main verb irrespective of any tense. Only the auxiliary verbs depend upon the sentence given in the active voice.
The correct answer is A)There is no time to be wasted.
Option A is correct as the given sentence is an imperative statement with an implicit subject of 'you' and as the given sentence is in the simple present tense and 'be' is used with the past participle of the main verb (waste).
Options B, C, and D are wrong as the sentence cannot start with 'No time'.