Conceive, having new pram due (5,2)
I believe the answer is:
dream up
'conceive' is the definition.
(thesaurus)
'new pram due' is the wordplay.
'new' indicates an anagram.
'pram'+'due'='pramdue'
'pramdue' anagrammed gives 'DREAM UP'.
'having' is the link.
(Other definitions for dream up that I've seen before include "Imagine, invent" , "Concoct" , "Invent through imagination" , "Invent (something)" , "'Devise or invent (5,2)'" .)