jhāna does not necessarily mean transcending the kāma loka and attaining “jhānic states” as commonly interpreted these days.
“Jhāna” means to “cleanse one’s defilements (especially kāma raga“) by making an effort, especially via Anapanasati and Satipatthana Bhavana.
– When one does that panna grows and one may also attain “jhānic states.”
This verse basically says that one needs to cultivate both jhāna and panna. The latter, of course, via learning true Dhamma. In fact, they grow together.
One can get a better idea of the meaning of the verse by looking at other verses in the sequence:
“Dhammapada Verses 368 to 376“