He also called for creation of a 'Teachers' Welfare Fund', on pattern of the fund set up in the Police department.
"In the last two-and-a-half decades, we have fought battles on several fronts, but I want you to fight and win this one for making JK an elite knowledge society," Sayeed said.
He was addressing a function on the occasion of Teacher's Day at Kashmir University here.
Mufti vowed to make JK a "Knowledge Hub" of South Asia and assigned teachers the onerous and challenging task of changing the "destiny of our talented youth".
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"While the rich and affluent could afford to send their children out, the wards of common masses suffered because of turmoil in the state," he said, while praising the swift "corrective measures" initiated by the Education department to bring the system back on rails.
The Chief Minister said it was not easy taking over the mantle from a previous regime which had reduced the education department to a "farce and a mere transfer industry" where teachers were shuffled like a pack of cards.
He indicated to the Education department to provide security of tenure to the teachers so that they disseminate knowledge without a Sword of Damocles hanging over their heads.
Asking the Education department to trust its teachers to deliver at the college and school-levels, Sayeed favoured delegation of greater financial powers to avoid unnecessary delay in creating and upgrading educational facilities.
"Education and Health are the two pillars of a sound society. Our college and school principals should not be seen as powerless administrators who cannot even take minor financial decisions at their own level," he said.