Not being a deontologist, I'd say that water is not a human right. It is quite important, though.
Second, the privatization of water—which exploits the view that water is a commodity rather than a public good—does not result in equitable access.
Equitable access is definitely not important. It's important that everyone has enough, but it isn't remotely a zero-sum game, so giving the rich people more doesn't significantly hurt the poor people. It can even help them by creating the infrastructure needed for water.
Also, treating water as a public good results in people taking more than they need, so the people down river don't get any. I know there's a name for that, I just can't find it. That being said, treating it as a private good isn't trivial. You either need to have the government sell water rights or have one guy own the whole river. Alternately, you could have several people own segments of the river and buy water from the guy upstream and sell it to the guy downstream. The first option involves the government, which I don't think tends to be very good at things. The second can result in the creation of a very powerful monopoly if there's only one main river, and gets problematic if there are several interconnecting ones. If there's only one river, the third option could result in people threatening to just drain the river, resulting in it being almost as costly as building an aqueduct. If there are multiple parallel rivers, especially if they branch into each other, this should be less of a problem. Someone (a charity, the government, or possibly a fishing or ecotourism company) would still need to pay for water being drained into the ocean if they don't want to destroy the ecosystem there.
If people can't afford clean water, they should either increase their welfare or work on other ways to decrease poverty. Just giving them water probably isn't a good idea, as it means that someone else decides on how important it is to them. Also, it means that whoever decides how the water systems are built doesn't get much from the water, but very well may get something from lobbyists.