The slow-light effect based on free-carrier population oscillation in semiconductors is analyzed using generalized macroscopic Bloch equations. Using this model, we are able to investigate the relation between the fractional time delay and the intensity of control laser beams for semiconductors. It is found that although increasing the control-beam intensity can enlarge the fractional time delay, the maximum delay that can be achieved is limited and determined by a critical value of the separation between the quasi-Fermi levels of electrons and holes. We also show that there is an intensity threshold for the control beam above which the probe signal becomes gain-assisted fast light rather than slow light. We therefore suggest a method to expand the relative time delay by switching between the fast-light region and the slow-light region through changing the intensity of the control laser beams. © Springer-Verlag 2006.