To pull up, drag up, or lift something upwards (transitive).
古い井戸からバケツを引き上げた。
I pulled the bucket up from the old well.
工事現場で重機を使って車を引き上げた。
They used heavy machinery at the construction site to lift the car up.
網にかかった魚を手で引き上げる。
I pull the fish caught in the net up by hand.
To raise or increase something such as a rate, price, or salary.
政府は消費税を引き上げる方針を発表した。
The government announced a policy to raise the consumption tax.
会社は最低賃金を引き上げることにした。
The company decided to increase the minimum wage.
景気回復に伴い、利率が引き上げられた。
With the economic recovery, interest rates were raised.
To withdraw, pull out, or retire from a place or position (to leave or pull out).
国連軍は翌月にその地域から引き上げた。
The UN forces withdrew from the region the following month.
イベント終了後、出店は順次引き上げられた。
After the event ended, the stalls were pulled down one after another.
To promote someone to a higher position; to advance or elevate someone's status.
彼は長年の功績で部長に引き上げられた。
He was promoted to department head for his long-standing achievements.
有能な若手が次々と役職に引き上げられる。
Capable young people are being moved up into positions one after another.
Intransitive/colloquial: to return home or go back (often used in contexts like 'to call it a day' or 'to head home').
今日はもう遅いから、そろそろ引き上げよう。
It's late today, so let's head home soon.
授業が終わったら学生たちは順に引き上げて行った。
When class ended, the students left one after another.
Archaic/sectoral: to expedite or bring forward a schedule (old-fashioned usage).
古い記録には、式典を引き上げると書かれていた（注：古い用法）。
Old records state that the ceremony was 'hiki-ageru' (note: archaic usage).