To intentionally set something on fire or commit arson

To stir up trouble or incite a disturbance

(literary) To light and display decorative lanterns during a festival; famous for its use in the proverb 只许州官放火，不许百姓点灯 zhǐ​xǔ​zhōu​guān​fàng​huǒ​bù​xǔ​bǎi​xìng​diǎn​dēng

(of an internal combustion engine) to have a premature explosion in the cylinder or exhaust