why this is a draw?

because black would have taken the pawn, and a king cannot check another king.

@Simo_Sama Black cannot checkmate even though White's time ran out

White is the side that ran out of time. Black has no possible combination of moves that leads to checkmate, so per the FIDE laws of chess, the game is drawn.

The white Pawn will be captured the next move and there's no way to stop it, so naturally it would be a draw

Thank you minasama, Now I understand this law

It is draw because there is no chances to win black without time means as per position it is draw but there are some chances of wining white but not taking pawn by black if not take pawn it is fully winning white
Timeout of winning player fully then drw

@Aragorn-Elessar @MightySorceror614
The game result is not decided upon what will the players probably do on their next move. Result depends on the current position.
The question here is not why did white not win. White ran out of time. Question is why didn't black win. Black didn't win because he has no chances to checkmate white.

okay, WHY did you dislike my comment? it's the reason.

@MightySorceror614 Because it is incomprehensible.