It can also mean to spend time or to hang out, depending on the context.
Here are some examples:
* "Vamos a pasar un rato en la playa." (Let's have a good time at the beach.)
* "Pasé un rato agradable con mis amigos." (I had a good time with my friends.)
* "Pasé un rato leyendo un libro." (I spent some time reading a book.)
* "Pasaré un rato con mi familia." (I'm going to spend time with my family.)