Pras has nothing but time now that The Fugees' anniversary tour is no longer happening, and TMZ Hip Hop obtained his newest track -- ripping Lauryn Hill and addressing his federal case.

On the track "Bar Mitzfa," Pras incorporates a rock 'n roll-rap hybrid to air his frustrations when he raps, "Don't blame me, blame her, she made the mess ... not another f***ing penny, is what I told [Wyclef Jean]."

We're told the song was recorded sometime last week, when Pras needed to blow off steam ... on the heels of low ticket sales shutting down the legendary hip hop trio's reunion plans.

Remember, Pras agreed with fed-up fans that Lauryn's reputation for being late and missing shows justified them boycotting the concerts.

You gotta think, Lauryn's lateness also jams up his and the band's schedule ... not to mention any invited celebrity guests at the shows!!! After a while, everyone starts to treat the tour like a big joke.

"Bar Mitzfa" appears to amplify those feelings ... he's not tripping over the lost revenue. He's a founding member of the Diamond-selling rap group, and prides himself on their rep with the fans, above all!!!