What verbs collocate with policy?
Make a policy? Develop a policy?
The government should make a a policy to reduce the number of cars.
Does this sound correct?
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There are many verbs that can logically take policy as an object. The meaning will be different in each case.
One might set out a policy. This means to explain, preferably thoroughly and clearly, what the policy is. It can apply to a proposed policy as well as one that is actually being put into force. In the case of organisations that have policies of primarily rhetorical value rather than practical, such as a political party (especially one not in control of government), it may be the most formal thing done with a policy. Set forth would be largely synonymous in this context. For the meaning of explanation, you could also just use explain.
One might formulate or develop a policy. This refers to the process of coming up with the policy, and may involve several drafts, consultations and so on.
One might adopt, establish, or promulgate a policy. This refers to putting a policy into force or making it official.
Once a policy has been adopted, it might be enforced. This is to take action under a policy to ensure that it is not violated.
To make policy could apply to formulating/developing it, or to adopting it. To write a policy is to set out policy in concrete written form, which may involve developing it as well. To revise a policy is, as one might expect, to change it in some way.
To violate a policy is to act contrary to it.
There are certainly other verbs that could be used, but these are the ones I think would be most often used in relation to policy.